Answer the next question on the basis of the following data.  Output Total Cost0 $241 332 413 484 545 616 69 If the marginal cost of the seventh unit of output is $9, then the total cost of producing seven units isMultiple Choice

By filling in the blanks in the cost schedule below, it can be determined that the total cost of the second unit of output is:QuantityTotal cost ($)Marginal cost ($)0200   1900 2 9003 3000   Question 7Select one:a.$700b.$0c.$900d.$1800e.$1000Clear my choiceQuestion 8Not yet answeredMarked out of 1.00Flag questionTipsQuestion textGross national expenditure ...... Question 8Select one:a.includes spending on imports by residents.b.includes all spending in the economy, including that on second-hand goods.c.includes transfer payments from government paid to residents abroad.d.includes spending on exports by foreigners.Clear my choiceQuestion 9Not yet answeredMarked out of 1.00Flag questionTipsQuestion textAs shown in the diagram below, the law of diminishing returns applies where there are:Question 9Select one:a.three workers per day.b.less than five workers per day.c.between two and five workers per day.d.five workers per day.e.more than five workers per day.Clear my choiceQuestion 10Not yet answeredMarked out of 1.00Flag questionTipsQuestion textEconomies of scale occur when:Question 10Select one:a.the long-run average cost curve increases as output increases.b.the long-run average cost curve remains unchanged as output increases.c.firms are producing in the long-run compared to the short-run.d.the long-run average cost curve decreases as output increase.

When a firm produces 50 000 units of output, its total cost equals $6.5 million. When it increases its production to 70 000 units of output, its total cost increases to $9.4 million. Within this range, the marginal cost of an additional unit of output is ________.

Suppose a monopolist’s profit-maximizing output is 400 units per week and that the firm sells its output at a price of $100 per unit. The firm has total costs of $8,000 per week. Assume the monopolist is maximizing its profit and earns $50 per unit from the sale of the last unit produced each week. Instructions: Enter your answers as a whole number. a. What are the firm's weekly economic profits?      $  b. What is the firm's marginal cost?      $  c. What is the firm's average total cost?      $

Refer to the table below. The marginal cost of the third unit of output is: Output Total fixed cost Total variable cost Average variable cost0 200 0  1 200 50 $50.002 200 90 45.003 200 120 40.004 200 160 40.005 200 220 44.00Multiple Choice$30.$40.$45.$50.

Multiple Choice QuestionA firm's manager is given the following information: To sell 4 units of output, a price of $132 must be charged; this level of output reflects marginal revenue of $102 and marginal costs of $60. If the firm wants to sell 5 units of output, a price of $122 must be charged; this reflects marginal revenue of $82 and marginal costs of $70. To sell 6 units of output, a price of $112 must be charged; at this level of output, marginal revenue will be $62 and marginal costs $80. What should the manager do?Multiple choice question.Produce 4 units of output and charge $132.Produce an amount greater than 6 units.Produce 6 units of output and charge $112.Produce an amount less than 4 units.Produce 5 units of output and charge $122.