A perfectly competitive, increasing-cost industry is initially in long-run equilibrium. If a permanent increase in demand occurs, then at the new…
September 3, 2020
QUESTION FEB 20, 2019 American Airlines produces round-trip transportation between Dallas and San Jose using three inputs: capital (planes), labor (pilots, flight…
September 3, 2020

If the average total cost of producing 20 units of output is $15 and the average total cost of 21 units of output equals $15, then the marginal cost of the 21st unit is _____.

a.​$18

b.​$20

c.​$20

d.​$15

e.$12​

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