Marginal cost is:
A.) The change in total costs because of a one-unit increase in output.
B.) Total cost divided by the rate of output.
C.) Total revenue minus total cost.
D.) The average profit divided by the quantity sold.
A.) The change in total costs because of a one-unit increase in output.
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Big Oranges produces orange juice. To make its juice, Big Oranges harvests oranges from its own farms in addition to purchasing oranges from other locally owned farms. Big Oranges is ________.
A) partially vertically integrated B) completely vertically integrated C) partially forward integrated D) completely forward integrated
The relationship between the interest rate and the asset demand for money is
A) positive. B) inverse. C) positive sometimes and inverse other times. D) nonexistent.
A rational person may remain less than fully informed on an issue to be decided in an election
a. True b. False Indicate whether the statement is true or false
Unemployment insurance cannot eliminate the national costs of lost output due to unemployed labor.
Answer the following statement true (T) or false (F)