To produce a firm's current output level, total cost is $600, and the total variable cost is $450 . Therefore, the firm has
a. a marginal cost of $150
b. sunk costs of $150
c. a marginal cost of $1,450
d. total fixed cost of $1,450
e. total fixed cost of $150
E
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Under EPA regulations, a factory
a. must pay for the right to pollute. b. can increase air pollution from its grinding process if it decreases air pollution from its smelting process. c. cannot under any circumstances build a polluting factory in an area where pollution standards are not being met by existing firms. d. None of the above is correct.
Suppose that young people often borrow and then repay the loans when they are older. These actions relate to which problem in measuring inequality?
a. in-kind transfers b. the economic life cycle c. a negative income tax d. economic mobility
Spending on durable goods, nondurable goods, and services is included in:
A. net exports. B. consumption expenditures. C. government purchases. D. investment.
In the ultimatum game, if neither the allocator nor the recipient cared about fairness, what would be the optimal distribution of $20.00?
a. $19.99 for the allocator and $0.01 for the recipient b. $10.00 for the allocator and $10.00 for the recipient c. $19.99 for the recipient and $0.01 for the allocator d. $20.00 for the allocator and nothing for the recipient