For a single seller, the figure below shows the relationship between the number of units produced and the opportunity cost of producing an additional unit of output. If the market consists of 50 identical sellers, how much would be supplied in the market at a price of $14 per unit? 
A. 17,500
B. 350
C. 175,000
D. 1,750
Answer: A
You might also like to view...
In the presence of asymmetric information, a hire contract
A) achieves production efficiency. B) can lead to opportunistic behavior on the part of the agent. C) is impossible to write. D) will result in the principal earning all of the profit.
An example of the "Tragedy of the Commons" is litter in the picnic area of a local park
a. True b. False Indicate whether the statement is true or false
Alexandra has determined that studying an hour for her economics quiz will improve her grade on the quiz from a 75 to a 100. She also determines that this improvement is worth $20. To study for an hour for her economics quiz, however, she will have to work one fewer hour at her part-time job. Alexandra should:
A. study for the quiz as long as her hourly wage rate is more than $20. B. study for the quiz only if her hourly wage rate is exactly $20. C. not study for the quiz because earning a higher grade cannot have a dollar value. D. study for the quiz as long as her hourly wage rate is less than $20.
Actual unemployment can exceed the natural rate of unemployment due to:
A. structural unemployment. B. cyclical unemployment. C. frictional unemployment. D. All of these.