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Question
Refer to the following table. What is the total cost of producing five units of the good?
| Output | Total Fixed Cost | Total Variable Cost | Total Cost | Average Fixed Cost | Average Variable Cost | Average Total Cost | Marginal Cost |
| 1 | $500 | $200 | u2014 | u2014 | u2014 | u2014 | u2014 |
| 2 | u2014 | u2014 | $800 | u2014 | u2014 | u2014 | u2014 |
| 3 | u2014 | u2014 | $875 | u2014 | u2014 | u2014 | $25 |
| 4 | u2014 | u2014 | $925 | u2014 | u2014 | u2014 | u2014 |
| 5 | u2014 | u2014 | ???? | $100 | u2014 | u2014 | u2014 |
| 6 | u2014 | $450 | u2014 | u2014 | u2014 | u2014 | u2014 |
a. $1,050
b. $950
c. $1,025
d. $825
e. $1,000
Answer
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