Marginal profit is the profit
A. earned by a firm that is about to go out of business.
B. calculated directly from the total cost curve.
C. that is added by a one-unit increase in total output.
D. earned for each dollar of cost increase.
Answer: C
You might also like to view...
The concept of opportunity cost is illustrated by: a. a movement from the interior of the production possibilities curve to the frontier
b. a movement from the production possibilities curve to its interior. c. a movement from a point on the production possibilities curve to the northeast. d. a movement along the production possibilities curve, as production of one good falls in order to increase production of another.
The elasticity of supply is defined as the ____ change in quantity supplied divided by the ____ change in price
a. total; percentage b. percentage; marginal c. marginal; percentage d. percentage; percentage
Let supply be given by P = 5Q and demand by P = 19 - 2Q. Suppose we now place a tax of 5 per unit of output on the seller. The new supply curve is:
A. P = 5 + 5Q B. P = 5Q C. P = 5Qt5 D. P = 5Q - 5
An international organization created at the Bretton Woods conference in 1944 that helps coordinate international financial flows and can arrange short-term loans between countries is called? the:
A) World Bank.
B) International Monetary Fund.
C) U.S. Treasury.
D) U.S. Agency for International Development.