Using the data in the above table, when the firm increases its output from 4 to 9 units, the marginal cost of a unit is
A) $4.00 a unit.
B) $5.00 a unit.
C) $6.00 a unit.
D) $7.00 a unit.
B
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
A firm could experience diseconomies of scale if
a. One of its inputs is fixed b. Marginal costs are rising c. All of its inputs are variable d. Both A & B
Assume both the demand for beef and the supply of beef decrease. Which of the following outcomes is certain to occur?
A. The equilibrium quantity of beef will rise. B. The equilibrium quantity of beef will fall. C. The equilibrium price of beef will fall. D. The equilibrium price of beef will rise.
Hogrocket, which developed the Tiny Invaders game for the iPhone, found that to maintain sales in a profitable competitive market, the price of a product
A) will usually rise. B) will usually fall. C) will usually remain stable. D) will eventually fall to zero.