Refer to the diagram. Starting at point E, the production of successive units of bread will cost:
A. a constant 8 units of tractors.
B. a constant 6 units of tractors.
C. 1 / 8 , 1 / 6 , 1 / 4 , and 1 / 2 units of tractors.
D. 1 / 2 , 1 / 4 , 1 / 6 , and 1 / 8 units of tractors.
C. 1 / 8 , 1 / 6 , 1 / 4 , and 1 / 2 units of tractors.
You might also like to view...
A joint venture allows a foreign firm to easier adjust to a new market and often meet various institutional requirements
Indicate whether the statement is true or false
Economists at which administrative department help formulate spending plans and regulatory policies?
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
Refer to the diagram. If farmers produce a normal crop of Q n , their gross income:
A. will be 0P p PNQ n .
B. will be 0P n NQ n .
C. will be P p × Q n .
D. cannot be determined.