Question

The following is a table of the total cost (TC) of producing output Q for a...

The following is a table of the total cost (TC) of producing output Q for a particular firm. Based on this information, which of the following statements is correct?

Q      10   20 30    40 50 60 70 80 90 100

TC ($) 140 210    265       310    360    420    490    570      660 760

A.The average cost at Q = 40 is $7.

B.The marginal cost at Q = 80 is $9.50.

C.The marginal cost is higher than the average cost at Q = 50.

D.The marginal cost curve intersects the average cost curve at Q = 60.

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