Refer to the accompanying table below. The marginal cost of the 4th unit of activity is:Units of ActivityTotal CostTotal Benefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $10
B. $8
C. $6
D. $5
Answer: B
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In the figure above, if the price is $8 a unit, is there a shortage or surplus and what is the amount of any shortage or surplus?
What will be an ideal response?
A dominated strategy
A) exists when one firm is weaker than another. B) only occurs in a mixed strategy scenario. C) is one that is never used by a rational actor. D) is a characteristic of games with multiple Nash equilibria.
The value of a loan of $500 after a year at 3 percent interest is:
A. $509. B. $515. C. $565. D. $1,500.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point E to Point A, the opportunity cost of hybrid cars, measured in terms of motorcycles
A. increases. B. initially increases, then decreases. C. decreases. D. remains constant.