When a firm produces one unit, the variable cost is $3. When the firm produces two units, the variable cost is $6. What is the marginal cost associated with two units of production?
A) $2
B) $0.5
C) $6
D) $3
D
You might also like to view...
If the price level in the U.S. is 120, the price level in South Africa is 140, and the nominal exchange rate is 7 South African rands per dollar, then the real exchange rate is
A) 6 South African goods per U.S. good. B) 8.4 South African goods per U.S. good. C) 9.8 South African goods per U.S. good. D) 1.4 South African goods per U.S. good.
The demand curve for the product of a monopolist is
a. a straight horizontal line. b. identical to the market demand curve. c. identical to its MR curve. d. below its MR curve.
Some nonprice determinants of supply are:
A. prices of related goods, technology, prices of inputs, expectations, and the number of sellers. B. consumer preferences, the price of the good, and prices of related goods. C. expectations of sellers and number of buyers in the market. D. prices of related goods, technology, and consumer preferences.
One of the main roles of a central bank is:
A. managing the nation's money demand. B. coordinating the banking system to ensure a sound economy. C. accepting deposits from households and other private individuals. D. funding federal government spending.