The marginal factor cost (MFC) is the:
a. value of the additional output that an extra unit of a resource can produce.
b. additional cost of employing an additional unit of a resource.
c. additional cost of producing an additional unit of output.
d. the ratio of the total fixed cost to the total cost of production.
e. ratio of total cost to the total amount of resources employed.
b
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The cyclical unemployment rate changes with business cycle fluctuations
Indicate whether the statement is true or false
If duopoly firms that are not colluding were able to successfully collude, then
a. price and quantity would rise. b. price and quantity would fall. c. price would rise and quantity would fall. d. price would fall and quantity would rise.
Refer to the graphs shown. The market is computers. Which graph best represents the impact of cheaper memory chips on the computer market?
A. Graph a B. Graph b C. Graph c D. Graph d
Total profit (or loss)
A. is the rectangle bounded by OMGS.
B. is the rectangle bounded by OKER.
C. is the rectangle bounded by LMGF.
D. None of the choices are correct.