The above (incomplete) table provides information about the relationships between output and various cost measures. The marginal cost per unit when increasing output from 14 to 17 units is
A) $20.
B) $30.
C) $380.
D) None of the above answers is correct.
B
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Refer to the table below. The equilibrium price in this market is:Price PerUnitColumn A UnitsPer YearColumn B UnitsPer Year$2010040$309550$408060$506570$605080
A. nonexistent. B. between $20 and $30. C. between $30 and $40. D. between $40 and $50.
Using the above table, the total product and average product when 5 workers are employed are
A. 61 and 12.2, respectively. B. 62 and 13, respectively. C. 61 and 21, respectively. D. 62 and 15, respectively.
Assume the current interest rate is 25%. The present value of $1,000 in one year would be
A. $180. B. $450. C. $750. D. $800.
Until 2007, the price of sport utility vehicles (SUVs) rose and each year more were purchased. This experience suggests that
A) there must have been technological advances in the way SUVs are produced. B) the "law of demand" does not hold true in this market. C) there must have movement leftward along the supply curve for SUVs. D) there must have been a rightward shift of the demand curve for SUVs.