Refer to the shown here The marginal cost of the sixth unit

Refer to the shown here. The marginal cost of the sixth unit of output is:

$1.33.

$7.50.

$8.00.

$45.00.

Output (Q):                        0          1          2          3          4          5         6

Total Cost (TC):             $24      $33      $41      $48      $54      $61       $69

Refer to the table shown here. Diminishing marginal returns starts to occur between units:

2 and 3.

3 and 4.

4 and 5.

5 and 6.

Total Product (Q):            0          1          2          3          4          5          6

Total Cost (TC):             $50      $80    $105    $125    $155    $195       $250

Refer to the table shown here. The average variable cost of producing three units of output is:

$15.

$25.

$41.67 (approximate).

$75.

Total Product (Q):            0          1          2          3          4          5          6

Total Cost (TC):             $50      $80    $105    $125    $155    $195       $250

Refer to the table shown here. The marginal cost of producing the sixth unit of output is:

$33.33 (approximate).

$55.

$200.

$250.

Solution

Q2. Answer is 4 and 5. Explanation: Output TC MC 0 24 - 1 33 9 2 41 8 3 48 7 4 54 6 5 61 7 6 69 8 Hence, MC start rising at 5th unit so, diminishing returns applies from 4 and 5 units Q3. Answer is $ 25. Explanation: Output TC FC VC AVC 0 50 50 0 0 1 80 50 30 30 2 105 50 55 27.5 3 125 50 75 25 4 155 50 105 26.25 5 195 50 145 29 6 250 50 200 33.33 Q4. Answer is $55. Explanation: Output TC MC 0 50 0 1 80 30 2 105 25 3 125 20 4 155 30 5 195 40 6 250 55