Microeconomoics

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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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