The following table shows cost data for a perfectly competitive firm. Output Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost1 $500 $120 $620 $1202 250 108 358 953 167 97 263 754 125 88 213 605 100 81 181 556 83 78 161 607 71 78 149 808 63 81 144 1059 56 87 143 13510 50 96 146 170 If the product price is $105, the profit-maximizing output isMultiple Choice0 units.5 units.8 units.9 units.

The following table shows cost data for a perfectly competitive firm. Output Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost1 $500 $120 $620 $1202 250 108 358 953 167 97 263 754 125 88 213 605 100 81 181 556 83 78 161 607 71 78 149 808 63 81 144 1059 56 87 143 13510 50 96 146 170 If the product price is $105, the profit-maximizing output isMultiple Choice0 units.5 units.8 units.9 units.

Use the following table to answer the next question.  The table shows the total costs associated with varying levels of output produced by a perfectly competitive firm. Output Total Cost0 $1,4001 1,6002 2,0003 2,6004 3,5005 4,800 If the product sells for $800 a unit, the firm's profit-maximizing output isMultiple Choice2.3.4.

If you know that when a firm produces 10 units of output, total cost is $1,030 and average fixed cost is $10, then total variable cost isMultiple Choice$104.$930.$1,040.$1,130.

The figure below shows the marginal cost and average total cost curves for a perfectly competitive firm. If the market price is $10, thenSelected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer.amarginal cost always equals marginal revenue for each unit sold.bthe firm earns $10 profit on each unit sold.cmarginal revenue equals $10.dthe firm earns $8 profit on each unit sold.

When a firm produces 50 000 units of output, its total cost equals $6.5 million. When it increases its production to 70 000 units of output, its total cost increases to $9.4 million. Within this range, the marginal cost of an additional unit of output is ________.