The slope of a ray from the origin to a point on the total cost curve is the
A. variable cost of producing the corresponding level of output.
B. marginal cost of producing the corresponding level of output.
C. average fixed cost of producing the corresponding level of output.
D. average total cost of producing the corresponding level of output.
Answer: D
You might also like to view...
In order to achieve social efficiency, the size of an effluent tax should be based on:
a. the external cost created by the pollutant. b. people's willingness to pay for a cleaner environment. c. the expense of installing new "green" equipment. d. the number of free riders in the industry.
The Prime Directive says look to
A) the market. B) the government. C) competitors. D) all of these choices.
U.S. national defense spending is approximately ____ the amount spent on health care
a. twice b. four times c. ten times d. 1/4
Which of the following statements is correct? a. If unions successfully bargain for higher wages for their union members, employment among union members will increase. b. Wages are higher in nonunion jobs than in union jobs of comparable skill
c. The efficiency wage model asserts that higher wages will lead to higher productivity. d. The imposition of a minimum wage above the market price for unskilled labor creates a shortage of labor.