Refer to the information provided in Figure 8.9 below to answer the question(s) that follow.  Figure 8.9 
Refer to Figure 8.9. If this farmer produces the profit-maximizing level of hay when the market price is $18 per bale, her total cost would be

A. $1,200.
B. $2,800.
C. $5,600.
D. $6,300.


Answer: D

Economics

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A) $5,000 B) $6,000 C) $30,000 D) $16,000

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Which of the following will cause the average cost curve of making cigarettes to shift?

A) a $5 million penalty charged to each cigarette maker B) a $1 per pack tax on cigarettes C) a $1 an hour wage increase paid to all cigarette production workers D) All of the above

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What is a seller's opportunity cost?

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Stagflation is caused by

a. a negative supply shock. b. a positive supply shock. c. a negative demand shock. d. a positive demand shock. e. none of the above.

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