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Use the Following to Answer Questions: Table: Two Firms -(Table: Two Firms) Ignoring Fixed Costs, the Total Cost of

Question 44

Multiple Choice

Use the following to answer questions: Table: Two Firms  Item MC of Firm 1 MC of Firm 2  Number $2.50 First $55.00 Second 107.50 Third 1510 Fourth 20\begin{array} { c c c } \hline \text { Item } & \boldsymbol { M C } \text { of Firm 1 } & \boldsymbol { M C } \text { of Firm 2 } \\\text { Number } & & \$ 2.50 \\\hline \text { First } & \$ 5 & 5.00 \\\text { Second } & 10 & 7.50 \\\text { Third } & 15 & 10 \\\text { Fourth } & 20 & \\\hline\end{array}
-(Table: Two Firms) Ignoring fixed costs, the total cost of producing 3 units of output for Firm 2 in this table is:


A) $25.50.
B) $15.
C) $7.50.
D) $10.

Correct Answer:

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