If your cell phone bill is $40 when you use up to 300 minutes per month or $80 when you use between 300 and 400 minutes per month, the marginal cost of the 301st minute is:
A. $40.
B. $80.
C. $0.27.
D. $0.13.
Answer: A
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If 15 workers produce 100 license plates, 16 workers produce 120 license plates, and 17 workers produce 130 license plates, then
a. diminishing marginal returns have not set in because the marginal product is positive b. the marginal product of the seventeenth worker is 130 c. diminishing marginal returns must begin with the sixteenth worker d. the marginal product of the sixteenth worker is greater than the marginal product of the seventeenth worker e. the marginal product of the fifteenth worker must be 20
The sum of money spent by a person to purchase a new home is considered as a part of investment spending
a. True b. False Indicate whether the statement is true or false
Workers expecting inflation will expect wage increases to be built into their wage contracts
a. True b. False Indicate whether the statement is true or false
Which of the following is not a benefit to lenders/investors of financial intermediation?
a. Lower transaction costs than the direct market. b. Lower risks than the direct market. c. More diversification than the direct market. d. More convenient than the direct market. e. Higher yield than the direct market.