Refer to Figure 84. The marginal cost of the third microwave oven is
A) $133.33.
B) $150.
C) $350
D) indeterminate from this information.
B) $150.
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The average National Basketball Association player is over 6 feet tall. The average horse jockey is shorter than 5 1/2 feet tall. This is because height provides NBA players with:
a. d and e. b. an absolute advantage for horse racing. c. an absolute disadvantage for other sports in general. d. a comparative disadvantage in horse racing. e. a comparative advantage in basketball.
Several writers have helped to popularize the notion that stock prices follow no discernible pattern. What is meant by a random walk, and how can you explain why people continue to invest in stocks if the random walk theory is correct?
The phrase “price taker” can be associated most closely with ______.
a. a monopolistic demand curve b. a downward sloping demand curve c. an inelastic demand curve d. a perfectly elastic demand curve
The distribution of GDP between different factions within an economy most closely relates to the _____________ method of aggregate accounting. The fact that the value of GDP remains equal regardless of whether GDP is measured by what people are earning or what they are producing is referred to as an ___________.
Fill in the blank(s) with the appropriate word(s).