Refer to the production function. The marginal product at 5 units equals ________ units
Fill in the blank(s) with correct word
To obtain the marginal product at 5 units, take the first derivative and substitute 5 for X
Y = 10X + 20X2 - X3
dy/dx = 10 + 40(X) - 3X2
= 10 + 40(5 ) - 3(5 )2
= 10 + 200 - 75
= 135 units
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Other things the same, if participants in foreign exchange markets come to expect an increase in the value of the U.S. dollar ________
A) the actual value of the U.S. dollar will not be affected B) the actual value of the U.S. dollar will fall C) the actual value of the U.S. dollar will rise D) one cannot predict the movement of the U.S. dollar in the future
Suppose the government spends $5,000 per person this year. The market for borrowing and lending is competitive, and the market interest rate is 6%. Which of the following plans to finance the government's spending is best for consumers?
a. A tax of $5,000 per person this year. b. A tax of $5,300 per person next year. c. An annual tax of $300 per person forever. d. All of the above plans have the same effect on consumers.
Market-oriented solutions to externalities rarely work.
A. True B. False C. Uncertain
Refer to the data. If the market price for the firm's product is $12, the competitive firm should produce:
Answer the question on the basis of the following cost data for a firm that is selling in a purely competitive market:
A. 4 units at a loss of $109.
B. 4 units at an economic profit of $31.75.
C. 8 units at a loss of $48.80.
D. zero units at a loss of $100.