A firm has a fixed cost of $200 in its first year of operation. When the firm pr

Question

A firm has a fixed cost of $200 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000. The marginal cost of producing the 100th unit of output is $700. What is the total cost of producing 100 units? Answer $900 $4,200 $4,700 $4,900 A firm has a fixed cost of $200 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000. The marginal cost of producing the 100th unit of output is $700. What is the total cost of producing 100 units? A firm has a fixed cost of $200 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000. The marginal cost of producing the 100th unit of output is $700. What is the total cost of producing 100 units? $900 $4,200 $4,700 $4,900 $900 $4,200 $4,700 $4,900

Explanation / Answer

It's C.

Marginal Cost = totalcost100 -totalcost99

200=totalcost100-4000

totalcost100=$4200

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