Labor is the only variable input for Elliot's dog-walking service. His labor costs are $300 a day and his service walks 25 dogs per day. His labor costs increase to $315.50 a day to walk 26 dogs per day. The marginal cost of walking that 26th dog is
A. $15.50.
B. $19.50.
C. $29.50.
D. indeterminate from the information given.
Answer: A
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The Phillips curve represents a direct relationship between the inflation rate and the unemployment rate
a. True b. False Indicate whether the statement is true or false
Waybelow Normal University has found it necessary to institute a crime-control program on its campus to deal with the high costs of theft and vandalism. The university is now considering several alternative levels of crime control. This table shows the expected annual costs and benefits of these alternatives. Total Costs Per YearTotal Benefits Per Year (Reduction in the Costs of Crime)Level One - 1 Security Officer$20,000$80,000Level Two - 1 Security Officer with Guard Dog30,000120,000Level Three - 1 Security Officer with Guard Dog and Patrol Car40,000140,000Level Four - 2 Security Officers with Guard Dog50,000155,000Level Five - 2 Security Officers with Guard Dog and Patrol car60,000160,000Refer to the above information. Based on cost-benefit analysis, Waybelow should undertake:
A. Level Two. B. Level Three. C. Level Four. D. Level Five.
Recall the Application the Joint Committee on Taxation and how Congress accounts for the dynamic effects of its policies to answer the following questions.The results highlighted in this Application shows that President Trump's tax cuts resulted in:
A. a decrease in tax revenue. B. an increase in tax revenue. C. no change in tax revenue. D. an increase in tax revenues early on, before tax revenues decreased in the long run.
In international trade the term "dumping" means
A) price discrimination by domestic producers. B) selling goods in a foreign market for a price less than on the home market. C) selling goods in a home market for a price less than on the foreign market. D) selling goods on the black market to avoid paying taxes.