Multiple Choice
The total cost of producing 299 units of a product is $1,195, and the average total cost when producing 300 units is $4. From this we know:
A) the marginal cost of the 300th unit is $4.
B) the marginal cost of the 300th unit is $5.
C) total fixed cost is $1,000.
D) the total cost of 300 units is $1,199.
Correct Answer:
Verified
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