For the cost function C(Q) = 100 + 2Q + 3Q2, the average fixed cost of producing 2 units of output is:
A. 3.
B. 100.
C. 2.
D. 50.
Answer: D
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Third-degree price discrimination occurs when:
A) different groups of consumers are charged different prices. B) consumers are charged different prices at different points of time. C) consumers are charged different prices according to their willingness to pay. D) consumers are charged different prices based on the characteristics of their purchases.
Municipal bonds
A. are issued by state and local governments. B. pay interest that is fully taxable. C. are issued by corporations. D. are issued by the federal government.
List the factors that influence supply. How does a change in each of the factors you have listed affect the supply curve?
What will be an ideal response?
Refer to the above table. If opportunity costs are constant, each nation produces only the one good for which it has a comparative advantage, and trade can occur between the two countries
A) country X will produce product A and country Y will produce product B. B) country X will produce product B and country Y will produce product A. C) country X will refuse to trade with country Y since country X has a comparative advantage in both products. D) country Y will refuse to trade with country X since country Y has a comparative advantage in both products.