The marginal cost curve intersects the average total cost curve when average variable costs are:
A. at a minimum.
B. falling.
C. at a maximum.
D. rising.
Answer: D
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Refer to the figure above. What is the equilibrium employment when the labor demand curve is LD2 and the labor supply curve is LS2?
A) 10 units B) 20 units C) 5 units D) 15 units
If the price is $60 per unit, what is the break even amount of units for technology A?
a. 50 b. 100 c. 150 d. None-They would have to shut down
As shown in Exhibit 3, ______ can produce both cloth and food ______.
a. Wendy; more productively
b. Wendy; at a lower opportunity cost
c. Calvin; more productively
d. Calvin; at a lower opportunity cost
If the internal rate of return from an investment is more than the opportunity cost of funds the firm should:
A. not make the investment. B. only make the investment using retained earnings. C. make the investment. D. only make part of the investment and wait to see if interest rates decrease.