Which equation shows how a firm’s marginal cost can be determined by looking at changes in its variable cost?
a. ?MC/?VC
b. ?q/?VC
c. VC/?VC
d. ?VC/?q
d. ?VC/?q
You might also like to view...
Refer to Table 8-2. Suppose that a simple economy produces only four goods and services: shoes, DVDs, tomatoes, and ketchup. Assume one half of the tomatoes are used in making the ketchup and the other half of the tomatoes are purchased by households. Using the information in the above table, nominal GDP for this simple economy equals
A) $7,400. B) $6,400. C) $5,800. D) 2,440 units.
On a two-dimensional graph, ________ allows for the effects of additional variables
A) adding an additional curve B) eliminating a curve C) moving along a curve D) shifting curves
Libertarians believe that
a. the government should choose just policies as evaluated by an impartial observer behind a "veil of ignorance.". b. the government should aim to maximize the well-being of the worst-off person in society. c. everyone in society should have equal utility. d. the government should not redistribute income.
Refer to the data provided in Table 9.2 below to answer the question(s) that follow.
Table 9.2
Refer to Table 9.2. If the market price is $20, then to maximize profits this firm should produce
A. zero units of output. B. one unit of output. C. two units of output. D. four units of output.