Table 21.4Output (Units per Day)Total Cost (Dollars per Day)016130242358478The marginal cost of the fourth unit of output in Table 21.4 is
A. $20.00.
B. $16.00.
C. $4.00.
D. $19.50.
Answer: A
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Which of the following lowers the equilibrium price of a canoe?
A) an increase in the supply of canoes B) an increase in the demand for canoes C) an increase in the quantity of canoes supplied D) a decrease in the supply of canoes E) Both answers A and B are correct.
Refer to Figure 3-4. At a price of $20, how many units will be supplied?
A) 400 B) 500 C) 600 D) 800
Some years ago, the World Bank surveyed the ways in which countries encouraged or discouraged market activity. Its conclusion was
A. when poor people are allowed access to the institutions richer people enjoy, they are ill equipped to take advantage of those benefits. B. when poor people are allowed access to the institutions richer people enjoy, they can thrive and help themselves. C. that there was no measurable difference between the countries that actively encouraged market activity from those that discouraged it. D. without the proper resources, encouraging market activity had no effect.
Which of the following strategies might a corporation follow to avoid a takeover?
a. refuse stockholders the right to sell their stock b. announce that all common stock will now be nonvoting c. announce that all stock will now become bonds d. use corporate retained earnings to purchase outstanding stock e. refuse to permit any potential raider access to any corporate records