What is the marginal cost of the 120th unit of output in Figure 21.2?
A. $1.20.
B. $200.00.
C. $288.00.
D. $208.00.
Answer: C
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A debt instrument sold by a bank to its depositors that pays annual interest of a given amount and at maturity pays back the original purchase price is called
A) commercial paper. B) a certificate of deposit. C) a municipal bond. D) federal funds.
The scope of the EITC program changed dramatically in
A. 1963. B. 1983. C. 1993. D. 1996.
Suppose that the demand and supply of money are initially in equilibrium, and that the demand for money increases. A monetary authority interested in keeping the money supply constant and the interest rate low must: a. adopt an expansionary monetary policy
b. adopt a contractionary monetary policy. c. increase the demand for money. d. decrease the demand for money. e. give up pursuing both goals at the same time.
When the average physical product is falling
A. average fixed costs are rising. B. average variable costs are falling. C. total costs are falling. D. average variable costs are rising.