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

Related MCQs

• If you know that with 8 units of output, average fixed cost is Rs. 12.50 and average variable cost is Rs. 81.25, then total cost at this output level is:
• When both average and total product are greater than zero, and marginal product equals average product, then total product:
• With fixed costs of Rs. 400, a firm has average total costs of Rs. 3 and average variable costs of Rs. 2.50. Its output is:
• The sum of marginal propensity to consume plus marginal propensity to save must equal to:
• The reason the marginal cost curve eventually increases as output increases for the typical firm is because:
• Marginal costs and average variable costs are equal when
• When average product is at a maximum, marginal product is
• The Long run Average Cost curve (LAC) in modern cost theory is roughly
• If average variable costs fall as output grows:
• Under increasing returns to scale, which of the following is the nature of the long run average cost curve?