Given the data provided in the table below, what will the marginal cost equal for production at quantity (Q) level 4?
a. $4.00
b. $5.00
c. $3.00
d. $1.00
a. $4.00
The marginal cost equal for production at quantity (Q) level 4 will be $4.00.
You might also like to view...
The above figure shows three demand curves labeled D1, D2, and D3. Rank these three demand curves in terms of elasticity at a price of c
What will be an ideal response?
Along with currency not in banks and deposits in checking accounts, what is another component of the M1 measure of money?
A. credit cards B. debit cards C. traveler's checks D. prepaid accounts
Tiger Woods, a professional golfer, pays a garage mechanic to change the motor oil of his car even though he can do the work himself. Which of the following best explains why Tiger Woods does NOT change the oil himself?
A) Tiger Woods has an absolute advantage in changing oil. B) Tiger Woods has a comparative advantage in changing oil. C) There is no opportunity cost for the garage mechanic to change oil. D) The opportunity cost of changing oil is higher for Tiger Woods than for the garage mechanic.
If the exchange rate changes from $2.00 = 1 euro to $1.98 = 1 euro then
A) the dollar has depreciated. B) the dollar has appreciated. C) the euro has appreciated. D) the euro has stayed constant in value.