CameraIcon

SearchIcon

MyQuestionIcon

3

You visited us 3 times! Enjoying our articles? Unlock Full Access!

Short Run Average and Marginal Costs

Answer the qu...

Question

Answer the questions with the help of the table given below. TFC is given to be 15.

Output
(Units) 1 2 3 4

TVC (₹) 10 10 29 40

What is the marginal cost for the 3rd unit of output?

[1 mark]

A

11

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

10

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

9

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

8

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B 10
MC = TVCn - TVCn-1
MC3 = 29 - 19 = 10

Suggest Corrections

thumbs-up

0

Similar questions

Q. Answer the questions with the help of the table given below. TFC is given to be 15.

Output (Units)	1	2	3	4
TVC (₹)	10	19	29	40

What are the AVC and TC for the 4th unit of output?

[1 mark]

Q. Answer the question from the information given in the table.

Output (Units)	10	9	9	7	6	5	4
Price (₹)	10	20	30	40	50	60	70

What is the marginal revenue for the 7th unit of output?

[1 mark]

Q. Study the table to answer the following questions.

Output (Units)	0	1	2	3	4	5
TC (₹)	40	100	120	130	150	190

What is the MC for zero units of output?

[1 mark]

Q. Study the table to answer the following questions.

Output (Units)	0	1	2	3	4	5
TC (₹)	40	100	120	130	150	190

Find the AC for the first 5 units of output.

[1 mark]

Q. Given below is the cost schedule of a product produced by a firm. The market price per unit of the product at all levels of output is

R s . 12

. Using marginal cost and marginal revenue approach, find out the level of equilibrium output. Give reasons for your answer:

Output (Units)	$1$	$2$	$3$	$4$	$5$	$6$
Average Cost (Rs.)	$12$	$11$	$10$	$20$	$10.4$	$11$

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

The Cost Curve

ECONOMICS

Watch in App

explore_more_icon

Explore more

Short Run Average and Marginal Costs

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon