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A firm’s average total cost is Rs. 300 at 5 units of output and Rs. 320 at 6 units of output.
The marginal cost of producing the 6th unit is :
The marginal cost of producing the 6th unit is :
- a)Rs. 20
- b)Rs. 120
- c)Rs. 320
- d)Rs. 420
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
A firm’s average total cost is Rs. 300 at 5 units of output and ...
Total cost for producing 5 units = 300 * 5 = 1500
Total cost for producing 6 units = 320 * 6 = 1920
Therefore, Marginal cost for producting the 6th unit =
1920-1500 = 420
Most Upvoted Answer
A firm’s average total cost is Rs. 300 at 5 units of output and ...
Is a business entity that is involved in producing or providing goods or services to its customers. It is usually owned by a group of individuals or a single person, who are known as the owners or shareholders. Firms come in different sizes, from small businesses to large multinational corporations. They can operate in various industries, including manufacturing, finance, real estate, technology, and many others. Firms are typically motivated by profit and seek to maximize their earnings by providing high-quality products or services to their customers at a competitive price.
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A firm’s average total cost is Rs. 300 at 5 units of output and Rs. 320 at 6 units of output.The marginal cost of producing the 6th unit is :a)Rs. 20b)Rs. 120c)Rs. 320d)Rs. 420Correct answer is option 'D'. Can you explain this answer?
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