How can we separate the cost of the electricity that generates the heat from a light bulb and the cost of the electricity that generates that same bulb's light?
A) By comparing the wattage of the bulb with the change in air temperature
B) By distinguishing sunk costs from marginal costs
C) By dividing the total cost in two
D) We cannot do it in any defensible way.
D
You might also like to view...
Checks are NOT money because they
A) are issued by banks, not by the government. B) are merely instructions to transfer money. C) have value in exchange but little intrinsic value. D) are not backed by either gold or silver.
Borrowing to pay for long-lived capital expenditures makes sense as
A) the benefits are received in the current year so the burden of paying for them should be spread over many years. B) the benefits are received in the current year so the burden of paying for them should be paid in the current year. C) the benefits are received over many years so the burden of paying for them should be spread over many years. D) the benefits are received over many years so the burden of paying for them should be paid in the current year.
There is no evidence that minority employment has risen as a result of affirmative action initiatives
Indicate whether the statement is true or false
The optimal number of workers for a perfectly competitive firm to hire occurs when
A. diminishing marginal productivity is first experienced. B. the wage rate equals the marginal product of the last worker. C. the wage rate equals the value of marginal product of the last worker. D. total labor cost equals total revenue.