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Answer the question on the basis of the following cost data. output Average Average variable fixed cost cost 1 $50.00 $100.00 2 $25.00 $80.00 3
Answer the question on the basis of the following cost data.
output Average Average variable
fixed cost cost
1 $50.00 $100.00
2 $25.00 $80.00
3 $16.67 $66.67
4 $12.50 $65.00
5 $10.00 $68.00
6 $8.37 $73.33
7 $7.14 $80.00
8 $6.25 $87.50
The marginal cost of the fifth unit of output is
A) $3.00
B) $62.00
C) $80.00
D) $78.00
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