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Question: Refer to the graph shown. If the firm increases output from 50 to 60, total revenue will increase...
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Show transcribed image text Refer to the graph shown. If the firm increases output from 50 to 60, total revenue will increase. More than total cost, and so profit will increase. More than total cost, and so profit will decrease. Less than total cost, and so profit will increase. Less than total cost, and so profit will decrease Answer: __________ Suppose that the total fixed cost of producing five sailboats is $4,000, total variable cost is $4,000, and the total cost of producing six sailboats is $10,000. The marginal cost of the sixth sailboat is: $2,000. $4,000. $8,000. $10,000. $6,000.

Refer to the graph shown. If the firm increases output from 50 to 60, total revenue will increase. More than total cost, and so profit will increase. More than total cost, and so profit will decrease. Less than total cost, and so profit will increase. Less than total cost, and so profit will decrease Answer: __________ Suppose that the total fixed cost of producing five sailboats is $4,000, total variable cost is $4,000, and the total cost of producing six sailboats is $10,000. The marginal cost of the sixth sailboat is: $2,000. $4,000. $8,000. $10,000. $6,000.