Use the following table to answer the next question.OutputATC-1ATC-2ATC-3ATC-41,500$10$15$20$302,00091217252,50081015203,00012713183,50015611164,00018107144,50020128125,00024151195,500291913126,00035251514Plant sizes get larger as you move from ATC-1 to ATC-4.The firm's minimum efficiency scale occurs at what level of output?
A. 2,500 units
B. 4,000 units
C. 3,500 units
D. 3,000 units
Answer: C
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You work as an assistant coach on the university swim team and earn $14 per hour. One day, you decide to skip the hour-long practice and go to the movie theater instead, which has an admission fee of $9. The total cost (valued in dollars) of skipping practice and going to the movies (including the opportunity cost of time) is
A.$6 B.$9 C.$15 D.$24
A system where goods and services are exchanged directly without a common unit of account is called the:
A) commodity system. B) fiat system. C) barter system. D) none of the above.
When price was 6, quantity demanded was 10. When price decreased to 5, quantity demanded increased to 13. Therefore, when price decreased, total revenue
A. decreased from 65 to 60, indicating that demand is inelastic. B. decreased from 65 to 60, indicating that demand is elastic. C. increased from 60 to 65, indicating that demand is inelastic. D. increased from 60 to 65, indicating that demand is elastic.
Give an example of government intervention that is intended to improve equality