If total costs are $50,000 when 1000 units are produced, and total costs are $50,100 when 1001 units are produced, we can conclude that
A) average variable costs are $100.
B) average total costs are $100.
C) average fixed costs are $100.
D) marginal costs are $100.
Answer: D
You might also like to view...
Gross domestic product (GDP) measures the
A) number of final goods and services produced in the economy in a given time period. B) number of final goods and services sold in the economy in a given time period. C) market value of old and new final goods and services sold in the economy in a given time period. D) market value of final goods and services produced in the economy in a given time period.
The benefits of a flat tax include all of the following exceptÂ
A. Simplicity. B. Elimination of exemptions for children. C. Only one tax bracket. D. No deductions or exemptions.
The tendency to experience losses as more painful than the pleasures that result from gains of the same magnitude is known as:
A. the availability heuristic. B. the present-aim standard of rationality. C. loss aversion. D. regression to the mean.
The maximum amount of money that company shareholders can lose on their investment in the corporation is:
A. whatever percent of their wealth equals their percent of ownership. B. whatever they paid for the shares in the company. C. whatever the corporation loses each year times the percent of ownership in the company. D. zero.