Table: Oil Production Costs $$\begin{array} { c c c c }
\hline \begin{array} { c }
\text { Barrel of Oil } \
\text { Produced }
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Revenue }
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Cost }
\end{array} & \begin{array} { c }
\text { Average } \
\text { Costs }
\end{array} \
\hline 1 & \$ 50 & \$ 4 & \$ 34 \
2 & 50 & 6 & 40 \
3 & 50 & 11 & 17 \
4 & 50 & 17 & 17 \
5 & 50 & 23 & 18.20 \
6 & 50 & 29 & 20 \
7 & 50 & 36 & 22.29 \
8 & 50 & 50 & 25.75 \
9 & 50 & 90 & 32.89 \
10 & 50 & 124 & 42 \
\hline
\end{array}$$ Refer to the table. If seven barrels of oil are produced, this firm is making:

Question

Table: Oil Production Costs $$\begin{array} { c c c c } 
\hline \begin{array} { c } 
\text { Barrel of Oil } \
\text { Produced }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Revenue }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Cost }
\end{array} & \begin{array} { c } 
\text { Average } \
\text { Costs }
\end{array} \
\hline 1 & \$ 50 & \$ 4 & \$ 34 \
2 & 50 & 6 & 40 \
3 & 50 & 11 & 17 \
4 & 50 & 17 & 17 \
5 & 50 & 23 & 18.20 \
6 & 50 & 29 & 20 \
7 & 50 & 36 & 22.29 \
8 & 50 & 50 & 25.75 \
9 & 50 & 90 & 32.89 \
10 & 50 & 124 & 42 \
\hline
\end{array}$$ Refer to the table. If seven barrels of oil are produced, this firm is making:

Quizplus · Accepted Answer

The Answer of Table: Oil Production Costs $$\begin{array} { c c c c } 
\hline \begin{array} { c } 
\text { Barrel of Oil } \
\text { Produced }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Revenue }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Cost }
\end{array} & \begin{array} { c } 
\text { Average } \
\text { Costs }
\end{array} \
\hline 1 & \$ 50 & \$ 4 & \$ 34 \
2 & 50 & 6 & 40 \
3 & 50 & 11 & 17 \
4 & 50 & 17 & 17 \
5 & 50 & 23 & 18.20 \
6 & 50 & 29 & 20 \
7 & 50 & 36 & 22.29 \
8 & 50 & 50 & 25.75 \
9 & 50 & 90 & 32.89 \
10 & 50 & 124 & 42 \
\hline
\end{array}$$ Refer to the table. If seven barrels of oil are produced, this firm is making:

Table: Oil Production Costs Refer to the Table