In the above table, what is the average variable cost to produce 3 units of output?
A. $10
B. $20
C. $30
D. $60
Answer: B
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Refer to the above figure. The wage rate under perfect competition is
A) W2. B) W3. C) W4. D) W5.
The marginal cost of a vacation in Jamaica is $3,000 . The marginal benefit to Jordan of a vacation in Jamaica is $3,500. a. According to the rule of rational choice, Jordan should choose not to vacation in Jamaica at this time
b. According to the rule of rational choice, Jordan will experience a net gain of $500 if he vacations in Jamaica. c. According to the rule of rational choice, Jordan will experience a net gain of $3,500 if he vacations in Jamaica. d. According to the rule of rational choice, Jordan will experience a net gain of $3,000 if he vacations in Jamaica.
Use the table below to answer the following question.ProducerMinimum Acceptable Product PriceActual Product Price (Equilibrium Price)Kimberly$6$13Drake713Nicki913Victoria1113Which producer has a producer surplus of $4?
A. Kimberly B. Victoria C. Nicki D. Drake
If the Fed sells U.S. government securities, the
A. money supply increases, and the money supply curve shifts to the right. B. money supply decreases, and the money supply curve shifts to the left. C. money supply increases, and the money supply curve shifts to the left. D. money supply decreases, and the money supply curve shifts to the right.