Use the following table to answer this question, which provides information on the production of a product that requires one variable input.InputTotal Product00102002060030720408205090060980The average product of the 30th input item is
A. 200.
B. 120.
C. 24.
D. 12.
Answer: C
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Why is it necessary for a firm that practices price discrimination be a price maker rather than a price taker?
What will be an ideal response?
The legislation passed by Congress in 1890 to reduce the market power of large and powerful "trusts" was the
a. Morgan Act. b. Sherman Act. c. Clayton Act. d. 14th Amendment.
The quantity equation states that:
A. money times velocity equals real GDP. B. money times the average price level equals real GDP. C. money times the average price level equals nominal GDP. D. money times velocity equals nominal GDP.
Which point or output-combination in the above graph could the nation produce only if it experienced inefficiency?
Combination F Combination E Combination C Combination G