If a firm's total costs are $80 when 10 units of output are produced and $90 when 11 units of output are produced, the marginal cost of the 11th unit is
A) $1.
B) $5.
C) $8.09.
D) $10.
D) $10.
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The following figure shows the production-possibility curves for Canada (AB) and the rest of the world (CD). Suppose Canada begins to trade with the rest of the world. If, in the international market, one bushel of corn is exchanged for one liter of maple syrup, Canada will produce ________ bushels of corn and the rest of the world will produce ________ liters of maple syrup.
A. 90; 100 B. 70; 50 C. 35; 32.5 D. 0; 0
The interest rate the Fed charges on loans it makes to banks is called
a. the prime rate. b. the federal funds rate. c. the discount rate. d. the LIBOR.
The government's health plan for the elderly is called
a. Medicaid. b. Medicare. c. Social Security. d. food stamps.
If the interest rate is 8% and $1 will be paid to you in 3 years, what is the present value of that dollar (to the nearest tenth of a cent)?
What will be an ideal response?