Suppose Chris is a potter who makes mugs. His total costs depend on the number of mugs he makes each day, as shown in the accompanying table.Number of Mugs Per DayTotal Cost Per Day0$101$142$193$254$325$406$49 The marginal cost if the 4th mug per day is ________.
A. $32
B. $5
C. $7
D. $8
Answer: C
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Which of the following expands the range of opportunities available to customers?
A) The bookstore that provides comfortable chairs and couches for book browsers B) The used car dealer who posts prices on the windshields of the cars C) The bank that advertises it will place ten dollars into any newly-opened savings account D) All of the above. E) None of the above.
What do taxes do?
(a) Impact the incentive to use resources efficiently (b) Transfer income from the person or entity paying taxes to other individuals or entities (c) Affect the relative prices of goods, services and resources (d) All of the above
If the supply of bananas increases, but the demand remains the same, which of the following would happen?
a. Price becomes indeterminate.
b. Quantity becomes indeterminate.
c. Price falls.
d. Quantity falls.
In an open economy, this country will ________ million bushels of corn.
A. export 600 B. import 150 C. export 300 D. import 600