Ouput Total Cost 0 $10 1 $20 2 $28 3 $38 4 $53 5 $73 6 $98 Refer to the provided table. The marginal cost of producing the sixth unit of output is
A) $98.
B) $25.
C) $10.
D) $16.33.
Ans: B) $25.
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To the extent that the political process of moving legislation through Congress is slow
A) the effect time lag will be long. B) the recognition time lag will be long. C) the action time lag will be long. D) automatic stabilizers will not be effective.
An allocation of resources is technically efficient if:
a. it is impossible to increase the output of a particular good. b. it is possible to increase the output of all goods. c. it is impossible to increase the output of one good without cutting back on the production of something else. d. it is possible to increase the output of one good.
Firms in a perfectly competitive market cannot influence
a. the quantity of the good that they produce b. how much labor to use in production c. how much capital to employ in production d. the level of advertising that they use e. the price of the product they sell
The value of a firm is
A. the price for which the firm can be sold minus the present value of the expected future profits. B. larger the higher is the risk premium used to compute the firm's value. C. smaller the higher is the risk premium used to compute the firm's value. D. both b and c