If a firm's average cost is Rs.32 at 6 units of output and Rs.34 at 7 unit, which one among the following is the marginal cost of producing the 7th unit
A) 46
B) 2
C) 36
D) 42
Correct Answer:
Verified
Q1: The concept of utility was introduced by
A)marshall
B)hicks
Q2: Cardinal utility analysis to consumer equilibrium was
Q3: MC at any level of output is
Q5: The cost that cannot be recovered once
Q6: The saucer-type of modern Short run Average
Q7: The Long run Average Cost curve (LAC)
Q8: Under increasing returns to scale, which of
Q9: Which of the following has a U
Q10: AFC curve will always be
A)rectangular hyperbola
B)u shaped
C)horizontal
D)downward
Q11: Implicit cost of a factor of production
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