The diagram above represents the total production cost of a car manufacturer. Which of the following statements correctly describes the cost of production?

Select one:

a.

The marginal cost decreasesas total output increases.

b.

The average cost increases and then decreasesas total output increases.

c.

The marginal cost when producing 70 cars is higher than $4,600.

d.

The average cost when producing 60 cars is $4,600.

e.

The total production cost when producing 20 cars is $80,000 less the fixed costs.

Watch Breaking Bac X ONLINE QUIZ 2 (OF X G The diagram above X G The diagram above X C AC = 2,200 350,000 X *Homework Help - ( X + X C ilearn.mq.edu.au/mod/quiz/attempt.php?attempt=10474041&cmid=6917671&page=15 Z Update : G Google 1% Live stock, index, fu... > Other bookmarks MACQUARIE BUSINESS SCHOOL @ Help Me AZarrar Ahmed Khan iLearn ECON1020 Principles of Economics 1 Quiz navigation Question 16 AC = 2,200 Not yet saved 350,000 2 3 4 5 6 7 8 Participants Marked out of 1.00 9 AC 10 11 12 13 14 15 16 Badges AC = 4,600 Flag question 17 18 19 20 Competencies Total cost of production, C(Q) Co = 80,000 AC D Grades Save and review Time left 0:21:16 MyLearn 20 40 60 Quantity of cars, Q My home The diagram above represents the total production cost of a car manufacturer. Which of the following statements correctly describes the cost of production? Calendar Select one: Library O a. The marginal cost decreases as total output increases. Academic Integrity O b. The average cost increases and then decreases as total output increases. O c. The marginal cost when producing 70 cars is higher than $4,600. My units O d. The average cost when producing 60 cars is $4,600. ECON1020 Principles O e. The total production cost when producing 20 cars is $80,000 less the fixed costs. of Economics 1 ACCG1000 Type here to search O 19.C Light rain ~ 0 ( BE() P ENG 11:03 AM GA 5/13/2022 11