Question 31 (1 point)

Brian's Bakery makes 40 loaves of bread for an average total cost of $2.50 and 41 loaves of bread for an average total cost of $2.55. What is the marginal cost of the 41st loaf of bread?

Question 31 options:

a	$4.55
b	$0.50
c	$0.05
d	$2.05

Question 32 (1 point)

Under an excise tax, the price paid by the consumer is not equal to the price received by the producer because the difference in these prices is the

Question 32 options:

a	Deadweight loss of the tax
b	Per unit excise tax
c	Total tax revenue generated
d	None of the above

Question 33 (1 point)

Consider the firm's cost shown in the table below. At what quantity is the average total cost the lowest?

Qty	Total Cost
0	200
10	400
20	700
30	800
40	1100

Question 33 options:

a	40
b	20
c	10
d	30

Question 34 (1 point)

The ________ effect states that the larger the output, the greater the quantity of output over which fixed cost is divided into, leading to a lower average fixed cost.

Question 34 options:

a	long-run
b	diminishing returns
c	spreading
d	increasing returns