QUESTION 23

Consider the following current information for Galaxy Inc::

Output = 200units

ATC =$50

What is the total cost of producing 200 units of output? $10,000

QUESTION 24

Consider the following current information for Galaxy Inc:

Output = 220 units

ATC = $60

What is the total cost of producing 220 units of output? $13,200

QUESTION 25

Using the information and answers from the previous 2 questions, calculate Galaxy's marginal cost of producing between 200 and 220 units of output.

a.$3,000

b.$800

c.$160

d.$200