Answer the next question on the basis of the following data.OutputTotal Cost0$24133241348454561669The marginal cost associated with the production of the sixth unit of output is
A. $12.
B. $8.
C. $24.
D. $16.
Answer: B
You might also like to view...
Assume that the market for corn is perfectly competitive. Currently, firms growing corn are generating losses. In the long run, we can expect
A. new firms to enter, causing the market price of corn to decrease. B. some firms to exit, causing the market price of corn to increase. C. some firms to exit, causing the market price of corn to decrease. D. new firms to enter, causing the market price of corn to increase.
Which of the following best describes supply-side economics?
A) Education affects the incentive to work, save, and invest and, therefore, aggregate supply. B) Tax rates, particularly marginal tax rates, affect the incentive to work, save, and invest and, therefore, aggregate supply. C) Labor productivity affects aggregate supply. D) Education affects labor productivity which affects aggregate supply.
Which of the following market structures is considered imperfectly competitive?
A. Perfect competition B. Monopolistic competition C. Monopoly D. All of these are considered imperfectly competitive.
When a U.S. importer needs $22,000 to settle an invoice for 25,520 Swiss francs, the exchange rate must be:
a. 1 Swiss franc = $1.16. b. 1 Swiss franc = $0.16. c. 1 Swiss franc = $0.84. d. $1 = 1.16 Swiss franc. e. $1 = 1.84 Swiss franc.