If a firm's total costs are $75 when it produces 10 units of output and $80 when it produces 11 units of output, then the marginal cost of producing the 11th unit is
A. $1.
B. $5.
C. $8.09.
D. $10.
Answer: B
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a. low transactions costs b. small levels of pollution c. high levels of pollution d. clear assignment of property rights Which of the above are assumptions behind the Coase Theorem? A) a, b, and d B) a, c, and d C) a and d D) a only
The total U.S. labor force excludes those
a. under age 20. b. under age 18. c. under age 16. d. over age 70.
If the world price is higher than the no-trade domestic price, then domestic producers gain, and domestic consumers lose as a result of free trade.
Answer the following statement true (T) or false (F)
The natural rate of unemployment includes
A) frictional and cyclical unemployment. B) frictional unemployment and structural unemployment. C) only cyclical unemployment. D) only unemployment due to layoffs and corporate downsizing.