The table below shows a firms cost for range of quantity. Find the value of X? Q TC ATC MC 100 500 5 X 120 720 6
a. 11
b. 20
c. 1
d. 220
e. None of the above.
a. 11
MC: ?TC/ ?Q
MC: (720-500) / (120-100) = 220/20 = 11
You might also like to view...
Which of the following will not shift the production possibilities curve outward?
a. an improvement in technology, which increases the efficiency of inputs b. the discovery of significant oil reserves in Alaska c. a decrease in capacity utilization of existing factories d. additions to the stock of physical capital
Briefly describe the foreign exchange market.
What will be an ideal response?
Which formula is correct?
A. Yd + S = C B. Yd × S = C C. Yd = S + C D. Yd + C = S
The effect time lag is the time period that elapses
A. between when an economic problem manifests itself and it is officially acknowledged. B. between the recognition of an economic problem and implementing policies to solve it. C. between implementing policies to solve an economic problem and when the results of that policy can be measured. D. between the beginning of the budgetary process and the final budget resolution.