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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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.
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.