If a firm's total costs are $100 when 10 units of output are produced and $105 when 11 units of output are produced, the marginal cost of the 11th unit is
A. $1.
B. $3.
C. $5.
D. $9.36.
Answer: C
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The Gini ratio is a measure of
A) income inequality. B) wealth distribution. C) income distribution. D) income as compared to wealth.
On a balance sheet, a company's accounts receivable are listed as
A) current liabilities. B) goodwill. C) current assets. D) stockholder's equity.
The price of a new textbook is $120 in one year and is $150 two years later, while the price of a used copy of the text increased from $40 to $60. The relative price of a new textbook
A) increased from 3 to 4.5. B) decreased from 0.8 to 0.67. C) decreased from 3 to 2.5. D) remained constant.
The intangible costs associated with reduced quality of life include:
a. potential income lost due to premature death. b. the cost of home remodeling to accommodate a physical handicap. c. pain and suffering. d. household services that must be replaced, such as housework. e. lost productivity at work.