Refer to Figure 8.5. The marginal cost of the third oven is
A) $50.
B) $100.
C) $150.
D) indeterminate from this information.
A) $50.
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
The only disease-specific group eligible for Medicare are those suffering from:
a. metastasized cancer. b. diabetes. c. end-stage renal disease. d. advanced coronary artery disease. e. AIDS.
A May Corn put has a strike price of $5.80. The underlying May futures price is $5.55.The intrinsic value is
A. -$0.25/bu B. $0.00/bu C. $0.25/bu D. $0.50/bu
The endpoints of an economy's production possibilities frontier (PPF) for goods X and Y are: (2,000X, 0Y) and (0X, 500Y). Furthermore, the opportunity cost between these two goods is always constant. Which of the following combinations of the two goods, X and Y, lies on the economy's PPF?
A) 400 units of X and 200 units of Y B) 600 units of X and 250 units of Y C) 400 units of X and 150 units of Y D) 1,000 units of X and 250 units of Y E) 300 units of X and 150 units of Y