Refer to the graph shown. To maximize profit, this firm should produce:
A. 250 units of output.
B. 525 units of output.
C. 450 units of output.
D. 120 units of output.
Answer: C
Economics
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Based on the above table, which of the following is the efficient quantity of output?
A) 31 B) 16 C) 32 D) None of the above answers is correct.
Economics
Refer to Figure 11-1. The marginal product of the 3rd worker is
A) 57. B) 19. C) 15. D) 11.
Economics
The marginal benefit of the pollution abatement curve
A) has a zero slope. B) has a positive slope up to a certain point and then a negative slope. C) slopes upward. D) slopes downward.
Economics
Scarce resources like land, labor, and capital can be categorized as
A) Manufactured resources. B) Natural and biological resources. C) Human resources. D) All of the above.
Economics