a. value of all resources used in a production process. b. marginal increment to profitability when price is constant. c. amount by which total cost rises when output is increased by one unit. d. amount by which output rises when labor is increased by one unit.
Marginal cost tells us thea. value of ... 5. A firm has a fixed cost of $200 in its ... 6. Who is a price taker in a competitive ... 7. When firms are said to be price takers, ... 8. The intersection of a firm's marginal ... ____ 39. Marginal cost tells us the a. value of all resources used in a production process. b. marginal increment to profitability when price is constant. c. amount by which total cost rises when output is increased by one unit. d. amount by which output rises when labor A firm has a fixed cost of $200 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000. The marginal cost of producing the 100th unit of output is $700. ____ 33. Average total cost tells us the a. total cost of the first unit of output, if total cost is divided evenly over all the units produced. b. cost of a typical Print. Marginal cost tells us the. a. value of all resources used in a production process. b. marginal increment to profitability when price is constant. c. amount by which total cost rises when output is increased by one unit. d. amount by which output rises when labor Average Total Cost. total cost/quantity, cost tells us the cost of the typical unit, but it does not tell us how much total cost will change as the firm alters its level of production. curve is U-shaped because the average total cost is the sum of average fixed cost and average variable cost.
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marginal cost tells us the