Multiple Choice
A farmer discovers that the total cost of growing 50 acres of eggplant is $50,000 and that the total cost of growing 51 acres of eggplant is $52,000. The marginal cost of the 51st acre of eggplant is
A) $52,000.
B) $50,000.
C) $2,000.
D) $1,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q272: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above table
Q273: Marginal cost is the increase in total
Q274: A firm is operating in its range
Q275: As output increases, marginal cost will eventually<br>A)
Q276: Which type of cost is does NOT
Q278: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above table
Q279: When the marginal product curve is above
Q280: When long-run average costs increase as output
Q281: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above table
Q282: Marginal cost is equal to<br>A) total cost