Questions
2025-HS1-ECO80001-Economics-H1 Assessment 1 - Online Micro Quiz
Short answer
Below is a table of data for a firm. Please use this table for this question, and the next two questions. Table 1 Total Output Total Cost Marginal Cost Average Cost 0 100 50 112 100 202 150 269 200 363 What is the marginal cost of producing a unit of output when the firm increases production from 150 to 200 units? Please do not enter the dollar sign, i.e. Answer: $____ (1 mark).
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Step-by-Step Analysis
Begin by identifying the data points for total cost at the relevant outputs: at Q = 150, TC = 269; at Q = 200, TC = 363.
Step 1: Compute the change in total cost when ou......Login to view full explanationLog in for full answers
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