Multiple Choice
Scenario 14-3
Suppose a certain competitive firm is producing Q=500 units of output. The marginal cost of the 500th unit is $17, and the average total cost of producing 500 units is $12. The firm sells its output for $20.
-Refer to Scenario 14-3. At Q=499, the firm's total costs equal
A) $5,983.
B) $5,988.
C) $5,995.
D) $5,999.
Correct Answer:
Verified
Correct Answer:
Verified
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