Solved

The Table Below Shows Output, Marginal Cost, and Average Variable

Question 114

Multiple Choice

The table below shows output, marginal cost, and average variable cost for the production of pairs of shoes. All costs are in dollars.  Output  Marginal  Cost  Average  Variable Cost 50601407045115903595110308013035651506060170105651901807521023090230290110 TABLE 7- 6\begin{array}{l}\begin{array} { | l | l | l | } \hline \text { Output } & \begin{array} { l } \text { Marginal } \\\text { Cost }\end{array} & \begin{array} { l } \text { Average } \\\text { Variable Cost }\end{array} \\\hline 50 & 60 & 140 \\\hline 70 & 45 & 115 \\\hline 90 & 35 & 95 \\\hline 110 & 30 & 80 \\\hline 130 & 35 & 65 \\\hline 150 & 60 & 60 \\\hline 170 & 105 & 65 \\\hline 190 & 180 & 75 \\\hline 210 & 230 & 90 \\\hline 230 & 290 & 110 \\\hline\end{array}\\\text { TABLE 7- } 6\end{array}
-Refer to Table 7- 6. The firm's marginal product of its variable factor is maximized when it produces units of output.


A) 100
B) 110
C) 170
D) 50
E) 90

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents