Victor currently produces nuts and bolts at point a in the figure. Victor's marginal cost of producing an additional nut is ________
A) 1 bolt per nut
B) 1/2 bolt per nut
C) 8/6 bolts per nut
D) 8 bolts per nut
A
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The "quantity demanded" of any good or service is ________ during a specified time period and at a specified price
A) the amount people are willing to buy B) the amount people are able to buy C) the amount people are willing and able to offer D) the amount people are willing and able to buy E) the amount people are willing to buy because it is the amount sellers are willing to sell
The greater is the risk of non-repayment of a loan, the
A. longer is the expected time to repay the loan. B. lower is the expected rate of interest. C. higher is the expected rate of interest. D. lower is the handling charges for the loan.
Municipalities that have adopted the policy of "rent control" typically set the rentals on certain apartments well below equilibrium. As a result,
A) landlords have a difficult time finding tenants. B) prospective tenants have a difficult time finding available apartments. C) there is a surplus of apartments. D) All of the above.
With a tax of $4,000 on $20,000 of income and $6,000 on $30,000 of income, the average tax rate is:
A. Constant at 10 percent B. Lower than the marginal tax rate C. Equal to the marginal tax rate D. Higher than the marginal tax rate, which is equal to zero?