Refer to Figure 5-2. The true marginal cost of the last unit produced is represented by the price
A) Pa. B) Pb. C) Pc. D) Pf.
D
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In the 1970s, _____
a. the market interest rate increased above the rate that banks could offer b. banks and thrifts were able to borrow at low interest rates to support outstanding loans c. the market interest rate decreased below the rate that banks could offer d. banks and thrifts were forced to call in outstanding loans e. banks and thrifts were bailed out by the FDIC
Mutual funds that are composed of corporate and government bonds are known as:
a. risk-adjusted funds. b. global funds. c. equity funds. d. fixed-income funds. e. money market funds.
If Japan can produce each unit of steel using fewer resources than Canada uses,
a. Canada has an absolute advantage in steel production b. Japan has a comparative advantage in steel production c. Canada has a comparative advantage in steel production d. Canada may have an absolute advantage in producing steel e. Japan has an absolute advantage in steel production
If the short-term own price elasticity for transportation is estimated to be ?0.6, then long-term own price elasticity is expected to be:
A. greater than ?0.6. B. ?0.6. C. less than ?0.6. D. neither greater than, less than, nor equal to ?0.6.