Use the following market data to answer the question below. Price per UnitQuantity Purchased by ConsumerQuantity Sold by Producer$52,0000101,800300151,600600201,400900251,2001,200301,0001,500In the market shown in the table, the marginal cost of 600th unit is
A. $20.
B. $15.
C. $10.
D. $25.
Answer: B
You might also like to view...
Inflation burdens those individuals living on fixed incomes
Indicate whether the statement is true or false
The term frictional unemployment refers to persons who are out of work
a. due to technological change. b. due to strikes or lockouts. c. and have given up looking for work. d. because they are between jobs.
Answer the following questions true (T) or false (F)
1. As the number of firms in a market increases, the supply curve will shift to the right and the equilibrium quantity will rise. 2. If the population increases and input prices decrease, the equilibrium quantity of a product will definitely increase. 3. If the demand for a product increases and the supply of the product does not change, equilibrium price and equilibrium quantity will both increase.
Normative analysis:
A. is a value-free evaluation of a policy. B. examines if the policy actually accomplished its goal. C. is a matter of values and opinions. D. involves the formulation and testing of hypotheses.