Number of CakesVCMCAVCFCTCATC0???50??1?30????2?????503??25???4????155?Table 8.3Table 8.3 presents the cost schedule for Candy's Cakes. If Candy produces two cakes, Candy's marginal cost is:
A. $0.
B. $20.
C. $25.
D. $50.
Answer: B
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A) C + E B) B + C + D + E C) A+ B + D D) A
The reason protectionism remains strong in the United States is that
A) economists can produce any result they are hired to produce. B) economists cannot persuade the general public that free trade is beneficial. C) economists do not really understand how the real world works. D) the losses associated with protectionism are diffuse, making lobbying by the public impractical. E) economists cannot agree on trade policy recommendations.
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Indicate whether the statement is true or false
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a. Quantity demanded at Urban General falls by 4 percent. b. Quantity demanded at Urban General rises by 4 percent. c. Quantity demanded at Urban General rises by 1 percent. d. Quantity demanded at Urban General falls by 1 percent. e. Quantity demanded at Urban General does not change.