Answer the next question based on the following data.OutputTotal Cost0$24133241348454561669What is the average variable cost of the 5th unit of production?
A. $4.80
B. $7.00
C. $12.20
D. $7.40
Answer: D
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Whether a particular technological innovation is good for a particular worker depends on the effect of that innovation on the worker's:
A. reservation price. B. labor mobility. C. union contract. D. marginal product.
The costs in time and other resources that parties incur in the process of facilitating an exchange of goods and services are called
A) implicit costs. B) explicit costs. C) enforcement costs. D) transactions costs.
In a model with money neutrality, a 10% increase in the money supply leads to an increase of output by
A) more than 10%. B) 10%. C) less than 10%, but more than zero. D) zero.
If you live in a state with a returnable deposit law and you decide to throw out your empty bottles and cans, chances are that someone down the line with a higher opportunity cost than you will find them and return them for deposits
a. True b. False