Marginal cost is the
a. change in total cost resulting from the purchase of one more unit of the variable input.
b. change in total cost resulting from the production of one more unit of output.
c. difference between total fixed cost and total variable cost.
d. difference between total cost and total expenditure.
b
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A commercial bank's reserves are
A) bonds issued by the U.S. government that are very safe. B) the provision of funds to businesses and individuals. C) currency in its vault plus the balance on its reserve account at a Federal Reserve Bank. D) savings and time deposits. E) its loans.
Consider the market for purple magic markers. The demand for purple magic markers is perfectly elastic and the supply curve is upward sloping
If sellers of purple magic markers are taxed $1 per marker, how will the tax be divided between the buyer and seller? A) The sellers will pay the entire tax. B) The buyers will pay the entire tax. C) The tax will be evenly divided between the sellers and buyers. D) More information is needed to determine how the tax is split.
Refer to the table below. What is Crunchy Fruits total marginal cost to produce 15,000 units?
Crunchy Fruits makes dried fruit snacks. Crunchy Fruits has a multi-plant firm with two production facilities. The table above summarizes the marginal cost of production at the individual plants and the corresponding quantity produced at the individual plants.
A) $2.25
B) $4.50
C) $3.75
D) $3.25
Refer to the below table. If there was no health insurance, the equilibrium price and quantity of health care would be:
Use the table below to answer the question. The table shows the hypothetical demand and supply schedule for health care
A. $600 and 300 units
B. $400 and 400 units
C. $500 and 400 units
D. $400 and 500 units