The change in total costs due to a one-unit change in the production rate is
A. marginal cost.
B. total variable cost.
C. average total cost.
D. total fixed cost.
Answer: A
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If the CPI for this year is 220 and the CPI for last year was 215, the inflation rate is
A) just over 2 percent. B) 5 percent. C) just over 5 percent. D) 10 percent.
Which one of the following will determine the size of the production possibilities curve?
a. amount of labor b. amount of capital c. entrepreneurship d. all of the above
Tariffs on imported coffee will result in all of the following except:
A. Higher prices for imported coffee. B. Higher prices for domestic coffee. C. Gains for workers in the domestic coffee industry. D. Gains for workers in the foreign coffee market.
Figure 16.1A firm that generates pollution is illustrated in Figure 16.1. Suppose the government is considering changing the pollution tax from P3 to P2. That new policy would:
A. increase the marginal benefit to firms of abating, and thus encourage greater abatement. B. increase the marginal benefit to firms of abating, causing them to generate more pollution. C. reduce the marginal benefit to firms of abating, causing them to generate more pollution. D. reduce the marginal benefit to firms of abating, and thus encourage greater abatement.