The figure above shows the costs and benefits associated with producing paper. What is the marginal external cost when output is 6 tons?
A) $1,600
B) $1,200
C) $1,000
D) $600
E) $400
D
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Yes. As deficit spending goes up, it is likely government borrowing will, too. Then foreign residents who lend funds to the U.S. government have less to spend on our goods, so U.S. exports will fall.
Answer the following statement(s) true (T) or false (F)
The exchange rate is kept the same across geographically-separate markets by
A) hedging. B) speculation. C) government regulation. D) arbitrage.
The greater the product differentiation between monopolistically competitive firms
A) the lower the barriers to entry. B) the greater the price elasticity of demand. C) the higher the average variable costs. D) the lower the price elasticity of demand.
The total cost of production equals
a. average total cost + average variable cost b. average total cost + average fixed cost c. average variable cost + average fixed cost d. total fixed cost + total variable cost e. marginal cost + total variable cost