What is the marginal net benefit of producing the fourth unit?No. units producedTotal RevenueTotal costs0001100502180110325018042902705310380
A. 40
B. -50
C. 60
D. 0
Answer: B
You might also like to view...
What are economies of scale?
a. decreasing average costs as production increases b. increasing average costs as production increases c. increasing fixed costs as production increases d. none of the above
If your wages are indexed so that they automatically adjust for inflation, in a period of continued high inflation, the cost of the goods and services you buy ____ and your nominal income ____
a. decreases, decreases b. increases, increases c. decreases, remains the same d. increases, remains the same
If the interest rate is below its equilibrium value, the price of
a. bonds will fall. b. money will fall. c. bonds will rise. d. stocks will fall. e. real estate will fall.
Which of the following criteria would make gold a poor medium of exchange?
A) a supply that would be difficult to control because of the unpredictability of new gold discoveries B) durability so that value is not lost by spoilage C) value relative to its weight so that amounts large enough to be useful in trade can be easily transported D) divisibility because different goods are valued differently