If the rate of exchange for a pound of $4, the rate of exchange for the dollar is _____ pound.
Fill in the blank(s) with the appropriate word(s).
ΒΌ
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In the short run, average fixed cost is constant as output increases
Indicate whether the statement is true or false
Involuntary exchanges, such as robbery,
a. represent potential Pareto improvements b. are positive externalities c. are not Pareto improvements d. are antitrust violations e. may be Pareto improvements
Refer to the above table. What is the marginal factor cost when the firm employs the second unit of labor?
A. $21 B. $38 C. $36 D. $19
Refer to the table and information below. What is the total amount that the government should spend on construction projects?
A government is considering undertaking one or more construction projects. The estimated marginal costs and benefits of each project are given in the table.
A. $8 million
B. $14 million
C. $19 million
D. $37 million