Marginal cost refers to the ________ cost incurred when choosing a particular action
A) total
B) net
C) implicit
D) additional
D
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A local government would not be efficient in providing which of the following services?
A. International aid B. Police protection C. Fire protection D. Roads
Happy Cows is a dairy farm that is currently earning $20,000 in economic profit. The managers of Happy Cows are considering adding a second dairy farm; however, the managerial diseconomies from adding the second farm cause Happy Cows current farm's economic profit to fall to $15,000. It is economically sound for Happy Cows to add the second farm if ________.
A) the second farm's economic profit is at least $4,800 B) the second farm's economic profit is at least $4,000 C) the second farm's economic profit is less than $5,000 D) the second farm's economic profit exceeds $5,000
The Obama administration believed that transfer payments to the unemployed would have a larger impact on aggregate demand than tax cuts
a. True b. False Indicate whether the statement is true or false
The typical monopolistic competitor
A. is a large firm. B. may be a drugstore, restaurant, gas station, or dry cleaner. C. never advertises. D. has a local monopoly.