A firm has an Actual margin of 0.60 and charges a price of $75. The firm’s marginal cost is:
? $25
B. $125.
? $45
D $30
Answer: ? $45
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Referring to Figure 19.2, the effect of a decrease in Japanese prices is represented by a movement from point
A) d to a. B) d to c. C) c to d. D) c to b.
Which of the Ten Principles of Economics does welfare economics explain more fully?
a. The cost of something is what you give up to get it. b. Rational people think at the margin. c. Markets are usually a good way to organize economic activity. d. People respond to incentives.
Refer to the table below. The marginal benefit of the 5th unit of activity is:Units ofActivity TotalCostTotalBenefit0$0$01$30$1002$40$1603$60$1904$100$2105$150$2206$210$225
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