Marginal cost equals
A) total cost minus total variable cost.
B) total fixed cost divided by total output.
C) total variable cost divided by total output.
D) the change in total cost that results from a one-unit increase in output.
E) the change in fixed cost that results from a one-unit increase in output.
D
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Over the Fed's history, it has targeted
a. bank reserves. b. the Federal funds rate. c. monetary aggregates. d. inflation. e. all but d.
Suppose a perfectly competitive firm faces the following short-run cost and revenue conditions: ATC = $8.00; AVC = $5.00; MC = $8.00; MR = $9.00. The firm should
A) decrease output. B) increase output. C) increase price. D) continue to produce its current output.
The debt ceiling is: a. a limit on the total amount of money the Fed can borrow from the government
b. the minimum amount of money the Fed can borrow from other commercial banks. c. a limit on the total amount of money the federal government can legally borrow. d. the maximum amount of money the state governments are allowed to use for public outlays. e. the maximum amount of money the state governments can borrow from the Fed.
Susan Sneed gave up her $55,000 job at ACC, Inc to return to college to change careers. She reduced her wardrobe to cheaper jeans and t-shirts, paid $5,000 in tuition, continued to make her family's $1,200 per month home mortgage payments, and bore the burden of a variety of inane comments about the stupidity of older students giving up good paying jobs to return to school. Which of the above
items is not needed to determine the opportunity cost of her return to college? a. her $55,000 ACC, Inc. salary b. the altered wardrobe costs c. the $5,000 tuition expense d. her family's $1,200 per month mortgage expense e. psychological stress from inane comments