Joe and Ed go to a diner that sells hamburgers for $5 and hot dogs for $3. They agree to split the lunch bill evenly. Ed chooses a hot dog. The marginal cost to Joe then of ordering a hamburger instead of a hot dog is
What will be an ideal response?
$1
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Refer to Table 8-13. Nominal GDP for Vicuna for 2013 equals
A) $4,920. B) $5,100. C) $5,300. D) $5,850.
The South's transportation problem was primarily due to
a. a shortage of mules and horses. b. a limited rail network. c. a shortage of inland shipping. d. the lack of a merchant marine.
In the economy of Talikastan in 2015, exports were $500, GDP was $6400, government purchases were $1700, imports were $400, and investment was $1800 . What was Talikastan's consumption in 2015?
a. $2000 b. $2800 c. $3000 d. $3800
Ceteris paribus, if average prices in the U.S. economy fall, then the
A. Foreign trade effect will lead to a lower quantity of U.S. output demanded. B. Cost effect will lead to a higher quantity of U.S. output demanded. C. Real balances effect will lead to a lower quantity of U.S. output demanded. D. Interest rate effect will lead to a higher quantity of U.S. output demanded.