Question
Use the following data for a competitive firm Q TC MC FC 1 40 -- 20 2 70 -- 20 3 90 -- 20 4
Use the following data for a competitive firm
Q TC MC FC
1 40 -- 20
2 70 -- 20
3 90 -- 20
4 130 -- 20
The Average Variable cost of the fourth unit of output (4) is
a. 30 b. 110 c. 27.5 d. 12.25 e. 19.67
The marginal cost of producing the fourth (4) unit of output is
a. 50 c. 40 b. 30 C. 20 D. 10
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Labor Economics
Authors: George J. Borjas
6th edition
73523208, 2900073523209 , 978-0073523200
