A firm estimates that when output is 10, its total costs are $900 . It also finds that when output is 11, its total costs are $920 . The marginal cost of the eleventh unit of output is
a. $1
b. $20
c. $90
d. $900
e. $920
B
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Fluctuations in economic performance is one of the two basic issues of macroeconomics. The other is
A) tracking unemployment. B) monitoring inflation rates. C) long-run economic growth. D) keeping interest rates in check.
What is meant by the term economic growth?
What will be an ideal response?
In the year 2015, the United States spent about
A) 17 percent of GDP on health care. B) 100 percent of GDP on health care. C) 6 percent of GDP on health care. D) 2 percent of GDP on health care.
A decrease in the money supply creates an excess
a. supply of money that is eliminated by rising prices. b. supply of money that is eliminated by falling prices. c. demand for money that is eliminated by rising prices. d. demand for money that is eliminated by falling prices.