If you eat at a Las Vegas casino that charges $12 for its all you can eat buffet, then the marginal cost of your third trip to the buffet line is
A. zero.
B. $4.
C. $12.
D. $36.
Answer: A
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In which of the following situations is there most likely to be a monopsony?
A) the market for farm workers in a large rural area B) the market for advertising executives in New York City C) the market for accountants in New York City D) the market for NBA players drafted out of college by one NBA team
Refer to Table 11-7. What is the average total cost of production when the firm produces 120 lanterns?
A) $1,680 B) $72 C) $14 D) $12.3
After a policy of import substitution has begun, a developing country finds that employment has not risen significantly and that urban unemployment seems to be rising. Explain how these developments might be connected
What will be an ideal response?
Since 1945, national defense expenditures as a percentage of GDP have _____
a. fallen from 41 percent to 3.7 percent b. fallen from 32.1 percent to 20.1 percent c. fallen from 62.3 percent to 11.5 percent d. fallen from 50.5 percent to 9.6 percent