Refer to the data. The marginal cost of the fifth unit of output is:
A. $3.
B. $62.
C. $80.
D. $78.
C. $80.
You might also like to view...
Refer to Figure 18.1. The opportunity cost of bicycles in the United States is
A) 1/3 of a hang glider. B) 1/2 of a hang glider. C) 3 hang gliders. D) 4 hang gliders.
Adam Smith, in his book, The Wealth of Nations, advocated:
a. socialism. b. an economy guided by an "invisible hand." c. government control of the "invisible hand." d. the adoption of mercantilism.
A type of hazardous substance is
a. an acid or base b. a heavy metal like copper or mercury c. synthetic organic chemicals, such as pesticides d. all of the above e. none of the above
Table 7.3 shows the number of workers and total output produced in a firm. In the table below, diminishing marginal returns set in with the addition of the _____. Number of workers Total output 0 0 1 10 2 40 3 100 4 140 5 160 6 170 7 150
a. ?fifth worker b. ?seventh worker c. ?third worker d. ?fourth worker e. ?first worker