Which expression is another way of saying "marginal cost"?
A. average cost
B. total cost
C. scarcity
D. additional cost
Answer: D
You might also like to view...
A firm producing bottled water reports the following production information:
# of Workers Total Product (gallons of water per hour) 0 0 10 1750 20 2750 30 3550 40 4150 50 4550 60 4750 The bottled water sells in a competitive market at a price of 10 cents per gallon. The firm hires workers in a competitive labor market at a wage of $7 per hour. The firm is currently hiring 20 workers and is considering hiring another 10 . What would you recommend the firm do? Why?
Monitoring a manager can be difficult if
A) the owner and manager do not have an enforceable contract. B) the owner cannot easily observe the manager's actions. C) the manager doesn't have to use a time clock. D) the board does not have enough outside directors.
Joe runs a pizzeria at a busy place in a city. Around 125 customers visit every day and they each buy 3 pizzas on average. Joe has employed 20 laborers to make pizzas. The productivity of one laborer per day in the pizzeria is equal to _____
a. 6.25 pizzas per worker b. 18.75 pizzas per worker c. 6.67 pizzas per worker d. 41.67 pizzas per worker e. 20.75 pizzas per worker
Which of the following is a possible drawback of horizontal fracking?
a. A fall in the cost of recovering natural gas and oil b. An increase in the price of gas and oil as a result of a decline in the supply of natural gas and oil c. A fall in imports of natural gas and oil d. A fall in environmental exploitation due to the means employed to extract oil e. An increase in harmful air emissions, water contamination, and problems associated with the disposal of harmful waste fluids