Fred has decided to buy a burger and fries at a restaurant, but is considering whether to buy a drink as well. If the price of a burger is $3, fries are $2, and drinks are $1, but a value meal with all three costs $4.80, the marginal cost to Ted of the drink is:
a. $-0.20
b. $0.20
c. $0.80
d. $1.00
a
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Suppose a nation has a total population of 100,000,000. Out of that, 70% are in the labor force and 65% of the population is employed. What is the nation's unemployment rate?
A) 5.0% B) 7.1% C) 7.7% D) 30.0%
In the short run, if a firm produces nothing, total costs are zero
a. True b. False Indicate whether the statement is true or false
Suppose a consumer buy books and DVDs. The price of a book is $10, the price of a DVD is $20 and the consumer's income is $400. If books are measured on the vertical axis and DVDs are measured on the horizontal axis, then the slope of the budget line is
A. 2. B. -2. C. 1/2. D. -1/2.
An improvement in the technology used to produce cell phones would be shown by a:
A. rightward shift of the supply curve for cell phones. B. leftward shift of the supply curve for cell phones. C. rightward shift of the demand curve for cell phones. D. leftward shift of the demand curve for cell phones.