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Scenario 14-1 Assume a Certain Firm Is Producing 1000 Units of Output

Question 108

Multiple Choice
Scenario 14-1
Assume a certain firm is producing 1000 units of output (so Q = 1000).At Q = 1000, the firm's marginal cost equals $15 and its average total cost equals $11.The firm sells its output for $12 per unit.
-Refer to Scenario 14-1.At Q = 999,what is the firm's total cost

Scenario 14-1
Assume a certain firm is producing 1000 units of output (so Q = 1000) .At Q = 1000, the firm's marginal cost equals $15 and its average total cost equals $11.The firm sells its output for $12 per unit.
-Refer to Scenario 14-1.At Q = 999,what is the firm's total cost


A) $10,985
B) $10,990
C) $10,995
D) $10,999

Correct Answer:

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