Business

16 July, 06:01

A firm has a fixed cost of $500 in its first year of operation. when the firm produces 100 units of output, its total costs are $3,500. when it produces 101 units of output, its total costs are $3,750. what is the marginal cost of producing the 101st unit of output?

a. $340.91

b. $250

c. $350

d. $275

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