If the total cost of producing 19 wizzbies is $38,000 and the total cost of producing 20 wizzbies is $39,000, the marginal cost of producing the 20th wizzbie is approximately
A. $19,000.
B. $1,000.
C. $2,000.
D. $38,000.
Answer: B
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In the figure above, which movement could be the result of an increase in the wages paid to oil workers?
A) point a to point e B) point a to point b C) point a to point c D) point a to point d
When the game does reach the Nash Equilibrium, the payoffs for both stores will be
a. Megastore $95 and Superstore $80 b. Megastore $305 and Superstore $55 c. Megastore $65 and Superstore $285 d. Megastore $165 and Superstore $115
If we observe a decrease in the price of a good and an increase in the amount of the good bought and sold, this could be explained by a(n):
A. increase in the supply of the good. B. increase in the demand for the good. C. decrease in the demand for the good. D. decrease in the supply of the good.
If the CPI declines from 300 to 270, the price level fell by _____ percent.
Fill in the blank(s) with the appropriate word(s).