A firm's average total cost is minimized at $5/unit when it produces 10 units. What is the marginal cost when the firm produces 10 units?
A. Greater than $5/unit
B. $5/unit
C. Less than $5/unit
D. $10/unit
Answer: B
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A regulated monopoly facing average cost pricing rule will make the same profit as a firm in ________ market does in the long run
A) an unregulated monopoly B) an oligopoly C) a perfectly competitive D) All of the above answers are correct.
At all points below the current LM curve,
A) the supply of output exceeds output demand. B) the supply of output falls short of output demand. C) the supply of money falls short of money demand. D) the supply of money exceeds money demand.
The net exports adjustments in aggregate demand includes
A. capital inflows minus capital outflows. B. capital outflows minus capital inflows. C. the sum of exports minus imports. D. the sum of imports minus exports.
Which of the following would shift a nation's production possibilities frontier outward?
A) an increase in demand for the nation's products B) discovering a cheaper way to convert sunshine into electricity C) a decrease in the unemployment rate D) a law requiring workers to retire at age 50