Refer to the above table. When output rises from 2 units to 5 units, marginal costs are
A. $26.50.
B. $31.
C. $63.
D. $21.
Answer: D
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Individuals serving on the boards of directors of competing firms is called
a. interlocking directorates b. tying contracts c. the rule of reason d. exclusive dealing e. predatory pricing
A totally pollution free environment should not be a primary social goal
a. True b. False Indicate whether the statement is true or false
Specialization: a. is a way for individuals to make the best use of resources by devoting themselves to one primary productive activity. b. is a way for society to become wealthier while not using their resources
c. is a way for people to avoid having to trade. d. increases one's opportunity cost of the activity they choose to specialize in.
If the consumption of a good by one individual does not change the amount of the good available to others, the good is considered to be
a. durable. b. nonrival-in-consumption. c. a common good. d. a natural resource.