Multiple Choice
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. What is the total cost of producing 100 units?
A) $900
B) $4,200
C) $4,700
D) $4,900
Correct Answer:
Verified
Correct Answer:
Verified
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