Using the above table, we see that when output is 4 units, average variable cost equals
A. $6.00.
B. $3.50.
C. $14.00.
D. $24.00.
Answer: B
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A. surfing. B. signaling. C. proofing. D. All of these are solutions to information asymmetry.
When a regulatory agency uses marginal cost pricing to regulate a monopolist,
a. price will exceed marginal cost. b. production costs will probably exceed the total revenues of the monopolist. c. marginal cost will equal average total cost. d. social welfare could be improved if average cost pricing was used instead
Which famous person referred to compounding as "the greatest mathematical discovery of all time?"
a. Abraham Lincoln b. Thomas Edison c. Benjamin Franklin d. Albert Einstein
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A) concerned with developing theories and interested in solving problems. B) interested in solving problems but not concerned with developing theories. C) reluctant to predict changes in variables such as prices, employment, and spending. D) always in agreement on the best way to implement policy decisions.