Total costs increase from $1500 to $1800 when a firm increases output from 40 to 50 units. Which of the following are true?
a. AVC rise by $300
b. AVC rise by $1800
c. AVC rise by $1500
d. AVC rise by $0
a
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Refer to Figure 8.5. An efficiency wage in this economy would be represented by a real wage of ________ and an employment level of ________
A) w1; L1 B) w1; L2 C) w2; L1 D) w2; L3
The equilibrium outcome used in both the sequential and simultaneous move games is known as
a. The centrality equilibrium b. First mover equilibrium c. Nash equilibrium d. All of the above
Assume you are the owner of a delivery service company with a large fleet of trucks and drivers. Each of your drivers is allowed two thirty-minute breaks per day. However, some of them take longer breaks than your policy allows
You find out about this problem only by accident when you heard a couple of employees discussing during a morning coffee break. What kind of a problem is this for you from an economic point of view and what methods might you employ to mitigate this problem?
Average cost
A. increases and eventually begins to decrease. B. is equal to marginal cost at its minimum. C. is always greater than marginal cost. D. is total cost/price of the product.