Firms average total cost of producing 101 units

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Reference no: EM1315141

Q. In the short run, a firm's total costs of producing 100 units of output equal $10000. If it produces one more unit, its total costs will increase to $10 150.

a. Illustrate what is the marginal cost of the 101 st unit of output?

b. Illustrate what is the firm's average total cost of producing 100 units?

c. Illustrate what is the firm's average total cost of producing 101 units?

Reference no: EM1315141

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