If a firm's total costs are $100 when 10 units of output are produced and $103 when 11 units of output are produced, the marginal cost of the 11th unit is
A. $1.
B. $3.
C. $5.
D. $9.36.
Answer: B
You might also like to view...
An allocation of resources is Pareto efficient if it is:
A. possible to make at least one consumer better off without making someone else worse off. B. possible to make all consumers better off. C. impossible to make any consumer better off without making someone else worse off. D. impossible to make any consumer better off without making everyone worse off.
A decrease in supply is a decrease in the quantity that sellers are willing and able to sell at _______.
Fill in the blank(s) with the appropriate word(s).
An increase in taxes on consumers will most likely cause a(n):
a. Increase in aggregate demand b. Increase in aggregate supply c. Decrease in aggregate supply d. Decrease in aggregate demand
Factor mobility refers to
A. Technological change in the use of capital. B. Technological change in the use of labor. C. The ease of reallocating resources. D. The increase in labor productivity.