Assume that a profit-maximizing firm is perfectly competitive in both the output and the factor markets and is at its long-run equilibrium. The firm's output is 100 units, its total revenue is $600.00, and the fixed cost of production is $50.00. Based on this information, which of the following is true for the firm?a. Its marginal cost is $5.50, and its average total cost is $5.50.b. Its marginal cost is $5.50, and its average variable cost is $5.50.c. Its marginal cost is $6.00, and its average total cost is $5.50.d. Its marginal cost is $6.00, and its average fixed cost is $5.50.e. Its marginal cost is $6.00, and its average variable cost is $5.50.

The marginal cost is the cost of producing one more unit of manufacturing. Since marginal cost aids in determining the level of production that is most efficient for a manufacturing process, it is a crucial topic in cost accounting. It is computed by estimating the costs involved in producing just one more unit.

The marginal cost refers to the increase in production costs generated by the production of additional product units. It is also known as the marginal cost of production. Calculating the marginal cost allows companies to see how volume output influences cost and hence, ultimately, profit.

Say, for illustration, that it costs $100 to produce 100 vehicle tires. It would cost $80 to produce one more tire. The cost to produce one extra unit of a good or service is then known as the marginal cost. The marginal cost is determined by the production expenses.

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