For the fall semester, you had to pay a nonrefundable fee of $600 for your meal plan, which gives you up to 150 meals. If you eat 100 meals, your marginal cost of the 100th meal is:
A. $0.25.
B. $0.
C. $6.
D. $4.
Answer: B
You might also like to view...
If a firm shuts down in the short run and produces no output, its total cost will be
a. zero b. equal to total variable cost c. equal to total fixed cost d. equal to explicit costs only e. impossible to calculate
A "kinked" demand curve reflects a tendency on the part of an oligopolist to:
a. follow price increases but not price reductions. b. following price reductions but not price increases. c. be unconcerned with rivals' behavior. d. None of these.
Which of the following factors of production is likely to be most productive?
a. A certified doctor working in a well-equipped hospital b. A medical student working as a volunteer in a rural health clinic c. A trained nurse without access to the latest medical technology d. A knowledgeable chemist without a degree in medical sciences e. A specialist doctor working in a hospital with poor infrastructure
Mortgage-backed securities are:
A. tradable assets made up of packages of individual mortgages. B. investments that people bought based on the equity of their homes. C. assets that were purchased based on the leveraged value of people's homes. D. securities that are often purchased by homeowners.