Number of FigsVCMCAVCFCTCATC0???100??19090????2?????1353??80???4????400?Table 8.4Table 8.4 presents the cost schedule for David's Figs. If David produces three figs, David's total variable costs are:
A. $0.
B. $41.67.
C. $80.
D. $240.
Answer: D
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At the beginning of 2015, a country is at full-employment. During 2015, oil-producing countries decrease oil production leading to much higher oil prices. The higher oil prices can
A) increase aggregate demand and lead to an expansion. B) increase aggregate supply and lead to an expansion. C) decrease aggregate demand and lead to a stagflation. D) decrease aggregate supply and lead to a stagflation. E) decrease aggregate demand and lead to a higher price level.
Picture the graph. When new firms enter a monopolistically competitive market, the result is a(n)
a. shift to the left of the existing firms' demand curves b. shift to the right of the existing firms' demand curves c. more inelastic set of demand curves for the existing firms d. decrease in market output (the sum of all firms' output) e. increase in price and decrease in firm's economic profit
Both prisoners realize they will each ______ if they can trust each other to be silent.
a. go free
b. serve one year in prison
c. serve six years in prison
d. serve ten years in prison
The U.S. economy in the mid-2000s did not experience stagflation because
A. energy prices declined. B. the energy content of GDP declined. C. it became more volatile since 1980. D. All of these responses are correct.