OutputTotal RevenueTotal Cost0$0$501407428094312011741601425200172Refer to the above table. The marginal cost of the third unit of output is:
A. $23.
B. $24.
C. $25.
D. $20.
Answer: A
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A firm in a competitive price-searcher market can raise its price without losing all of its customers. This is a result of
a. low entry barriers. b. a perfectly elastic market demand. c. the small number of firms in the market. d. product differentiation.
Which of the following transactions would be included in GDP for 2015?
A. On January 5, 2015, Chris Carter sold 100 shares of stock in IBM Corporation. B. Bonita Delgado purchases a new 2015 Chevrolet on March 10, 2015. C. Nadav Daniel buys a used desk from the “Struggling Students Used Furniture” store on May 9, 2015. D. Levi Lathan purchases a 75-year-old penthouse on Lake Shore Drive in Chicago, Illinois, on June 23, 2015.
The unemployment rate is equal to
A. the number unemployed divided by the labor force. B. the number unemployed divided by the population. C. the number unemployed divided by the number employed. D. the labor force divided by the population.
In the macroeconomics long run...
What will be an ideal response?