Refer to the information provided in Figure 7.1 below to answer the following question(s). 
Figure 7.1Refer to Figure 7.1. A corn producer's profit is $200 and is producing 100 bushels of corn. Then he must have a cost per bushel of
A. $1.
B. $2.
C. $3.
D. $4.
Answer: C
You might also like to view...
The leading trading partner of the United States is
A) Canada. B) Japan. C) Germany. D) Mexico.
Which of the following is not considered a unilateral transfer?
a. foreign aid from one government to another b. income earned from foreign investments c. personal gifts to friends in foreign countries d. donations to foreign countries from non-government domestic charities e. government transfers to foreign residents
Assume that the government is considering different policies to increase total expenditures in order to reduce unemployment. Which of the following would achieve this objective?
a. decreasing taxes b. increasing government spending c. increasing transfer payments d. All of the above are correct.
Suppose that elementary education creates a positive externality. If the government subsidizes education by an amount equal to the per-unit externality it creates, then
a. the equilibrium quantity of education will equal the socially optimal quantity of education. b. the equilibrium quantity of education will be greater than the socially optimal quantity of education. c. the equilibrium quantity of education will be less than the socially optimal quantity of education. d. There is not enough information to answer the question.