In the above table, the total cost of producing 9 units of output is
A) $20.
B) $30.
C) $50.
D) $70.
D
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A firm increases both its plant and its labor force by the same percentage and its average total costs remain unchanged. Is the firm experiencing increasing returns to scale, constant returns to scale, or decreasing returns to scale?
What will be an ideal response?
Refer to Figure 9.6. As a result of this policy, consumer surplus will
A) fall to $15. B) fall to $2250. C) rise to $2500. D) fall to $5000. E) rise to $5000.
Which of these is an example of a controllable factor for a firm that sells pizzas
a. The price of the pizza b. The delivery rates of the pizza c. The quality of the wings sold by the street vendor across the street d. Both A & B
Under what circumstances does inflation cause no harm to either lenders or borrowers?
a. When inflation equals 0. b. When inflation equals the historic mean. c. When inflation equals the inflation of the year before. d. When there is deflation. e. When the actual inflation rate equals the expected inflation rate.