Exhibit 8-10 Price and cost data for a firm
Q
P
AVC
ATC
MC
0
$12
?
?
?
1
12
3
5
5
2
12
5
6
7
3
12
7.3
8
12
4
12
9.5
10
16
In Exhibit 8-10, MR is the same as which column?
A. Q.
B. P.
C. AVC.
D. ATC.
E. MC.
Answer: B
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A) their labor supply curve will shift to the right. B) their labor demand curve will shift to the left. C) their labor supply curve will shift to the left. D) their labor demand curve will shift to the right.
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When the economy moves from point A to B in the above table, the opportunity cost of a computer in terms of televisions is
A) 10. B) 2.5. C) 2. D) 0.5.
Piece rate pay is
a. Compensation per dollar of profit of the company b. Compensation per dollar of profit of the division c. Compensation per piece a worker produces d. Compensation per dollar of sales