This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.PriceQuantityTC$500$10.00$501$20.00$502$27.50$503$77.50$504$147.50$505$250.00According to the table shown, what is the firm's marginal revenue from the 3rd unit produced?
A. $50
B. $150
C. $90
D. $60
Answer: A
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A) a decline in the MPK B) a decline in the real rental price of capital C) a decline in stock prices D) all of the above E) none of the above
When taxes alter individual behavior as people attempt to avoid the tax, efficiency
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A. $.50 and $1.00.
B. $1.00 and $.50.
C. $1.00 and $2.00.
D. $.40 and $.50.
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A) the demand for wheat would increase. B) the supply of wheat would increase. C) both A & B would occur. D) none of the above would occur.