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.
B) $3.
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Which of the following would be cures for the U.S. trade deficit?
A. Americans saving less and spending more B. A severe recession in Europe and Asia C. A severe recession in the United States D. A tax cut E. All of these responses are correct.
Workforce quality can be improved by
a. years of education. b. on-the-job training. c. workplace learning. d. all of the above.
A production function will begin
A. at the origin. B. on the horizontal axis. C. on the vertical axis. D. in the middle of the diagram (at a positive L and positive output).
When the free rider problem is present in a market the good:
A. is not excludable. B. is rival in consumption. C. will be underconsumed. D. will be oversupplied.