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L Q MPL FC VC TC AFC AVC ATC MC (workers) (units) (units) ($) ($) ($) (S (S ($) (S) 0 0 90 210 3

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L Q MPL FC VC TC AFC AVC ATC MC (workers) (units) (units) ($) ($) ($) (S (S ($) (S) 0 0 90 210 3 320 4 420 510 590 -J 660 The average total cost of producing 590 gadgets is the average total cost of producing 510 gadgets. greater than O less than O equal to O not enough informationL Q MPL FC VC TC AFC AVC ATC MC (workers) (units) (units) ($) ($) ($ ($) ($ (S) 0 0 90 210 W N 320 4 420 UI 510 590 660 What is the firm's marginal cost of producing the 590th gadget? $2.50 $2.71 $2.99 Onone of the aboveL (workers) Q (units) 0 0 60 2 110 150 Firm A's marginal cost of producing the 110th widget is _ _ Firm B's marginal cost of producing the 110th widget. greater than less than O equal to O not enough informationIf a firm is producing at a quantity in which the marginal cost exceeds marginal revenue, the firm _____ . O must decrease output to increase profit 0 must increase output to increase profit 0 is maximizing profit O must shut-down to increase profit

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