Suppose Sarah owns a small company that makes wedding cakes. The accompanying table shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number of Cakes Per DayTotal Cost Per Day0$1001$1802$2203$3004$4005$5206$660 The marginal cost of the 4th wedding cake per day is ________.
A. $400
B. $120
C. $300
D. $100
Answer: D
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The U.S. government's focus on supply reduction efforts in its "war on drugs" has been relatively unsuccessful at addressing illegal drug use
Some economists believe that a successful anti-drug program must concentrate on reducing demand; for example, through drug education and voluntary treatment programs for addicts. a. What will happen to the equilibrium price, quantity, and total revenue from cocaine sales if the government succeeds in its efforts to reduce demand? What is likely to happen to the incentive to sell cocaine? b. Suppose the government continues to concentrate its efforts on supply reduction and is able to reduce the supply of cocaine. As a result of the reduction in supply the price of cocaine increases by 25 percent. If the price elasticity of demand is -0.5, what is likely to happen to the incentive to sell cocaine? c. Based on your answers, explain why one approach might be preferred over the other.
Public sector unionization in the United States is currently closest to ________ percent.
A. 2 B. 8.2 C. 35 D. 23
During what period was money a better store of value: 1960-1980 or 1990-2009? Explain.
What will be an ideal response?
Refer to the table above. Which statement is correct about the change from year 1 to year 2?
The table shows four different currencies and how much of each currency can be purchased with a U.S. dollar.
A. The U.S. dollar depreciated against the Mexican peso
B. The U.S. dollar appreciated against the British pound
C. The U.S. dollar appreciated against the Japanese yen
D. The U.S. dollar appreciated against the euro