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October 25, 2014

Homework Help: Microeconomoics

Posted by TeeTee on Monday, May 7, 2012 at 11:59am.

1. The Omnibus Corporation finds that its daily costs are $50 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question(s).

Output TVC
1 $36
2 $57
3 $73
4 $94
5 $120

Refer to the above information. The marginal cost of the fourth unit of output is:
A) $73.
B) $94.
C) $21.
D) $23.50.
E) $24.50.

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