The marginal cost of producing the sixth widget is a 100 b 350 c 600 d Cannot

The marginal cost of producing the sixth widget is a

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43. The marginal cost of producing the sixth widget isa. $1.00.b. $3.50.c. $6.00.d. Cannot be determined.44. The average total cost of producing 4 widgets is45. The average variable cost of producing 3 widgets is
46. What is the marginal cost of producing the first widget?47. The average fixed cost of producing 5 widgets isa. $2.00.b. $3.00.c. $5.00.d. none of the above.48. What is the variable cost of producing zero widgets?49. What is the variable cost of producing 5 widgets?50. For a typical natural monopoly, average total cost is
51. Which of the following is a reason why a competitive firm might choose to set its price below the market price?a. Because this would result in higher profits.b. Because this would result in lower total costs.c. Because this would result in higher average revenue.d. none of the above.Use the following information to answer questions 52-54. Adrian’s Premium Boxing Service subcontracts with a chocolate manufacturer to box premium chocolates for their mail order catalogue business. She rents a small room for $150/wk in the downtown business district that serves as her factory. She can hire workers for $275/wk.# of workersOutputMarginal Product of LaborCost of FactoryCost of WorkersTotal Cost00 1330 150 275 4252630 3150 825 97548905950 60 1,375610 1,80052.Adrian has received an order for 3000 boxes of chocolates for next week. If she expects that the trend in the marginal product of labor will continue in the same direction, it is most likely that her best decision will be to:53.What is the marginal product of the fourth worker?
54.What is the total cost associated with making 890 boxes of premium chocolates per week?55.If a monopolist is able to perfectly price discriminate:a. consumer surplus is increased.b. deadweight loss is increased.c. the price effect dominates the output effect on monopoly revenue.d. consumer surplus and deadweight losses are transformed into monopoly profits.

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