Purchase Solution

Production Costs

Not what you're looking for?

Ask Custom Question

If the total cost of producing 10 units is $100 and the marginal cost of the eleventh unit is $21, then which of the following is NECESSARILY true?
A) Total variable costs of 11 units are $121.
B) Total fixed costs are $79.
C) The marginal cost of the tenth unit is more than $21.
D) The average total cost of 11 units is $11.
E) The average total cost of 12 units is $12

Purchase this Solution

Solution Summary

The solution answers the question(s) below.

Solution Preview

(D)is correct.
Because the total cost of producing 10 units ...

Purchase this Solution

Free BrainMass Quizzes
Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.