In the above figure, the marginal cost of the second ton of wheat is
A) $25.
B) $50.
C) $75.
D) none of the above
C
You might also like to view...
When all changes in the world are due to
A) fiscal policy, purchasing power parity holds true in the long run. B) monetary policy, purchasing power parity does not hold true in the long run. C) monetary policy, purchasing power parity holds true in the long run. D) monetary policy, purchasing power parity holds true even in the short run. E) fiscal and monetary policy, purchasing power parity holds true in the long run.
M2 includes:
a. Currency in circulation + Checking Accounts b. Checking accounts plus Deposits at the central bank. c. Currency in circulation + Reserves of financial intermediaries (e.g., banks) + Checking Accounts + Near Money. d. Currency in circulation + Checking Accounts + Near Money. e. Currency in circulation + Cash inside financial intermediaries + Deposits at the central bank + Checking Accounts + Near Money.
When the economy is at full employment,
a. there is no unemployment. b. the amount of cyclical unemployment equals zero. c. the amount of structural unemployment equals zero. d. the natural unemployment rate equals zero. e. the amount of frictional unemployment equals zero.
The Federal reserves fed wire system is used mainly to provide:
A. a means for foreign banks to transfer funds to U.S. banks. B. an inexpensive and reliable way for financial institutions to transfer funds to one another. C. a means for the Treasury to collect tax payments. D. an inexpensive way for individuals to pay their bills on-line.