4317EconomicsMedium
The total costs are Rs2000 and 10 units are produced. The marginal cost of an 11th unit is Rs1300 Which of the following is true?
AThe total costs for 11 units are Rs700
BThe average cost for 10 units is Rs1300
CThe average cost for 11 units is Rs1300
DThe average cost increase from Rs20 to Rs30
Correct answer
B. The average cost for 10 units is Rs1300
Explanation
The correct answer is The average cost for 10 units is Rs1300.