Answer the next question on the basis of the following cost data for a perfectly competitive firm.Total ProductAverage Fixed CostAverage Variable CostAverage Total CostMarginal Cost1$100.00$17.00$117.00$17250.0016.0066.0015333.3315.0048.3313425.0014.2539.2512520.0014.0034.0013616.6714.0030.6714714.2915.7130.0026812.5017.5030.0030911.1119.4430.55351010.0021.6031.6041119.0924.0033.0948128.3326.6735.0056Which of the following represents the firm's short-run supply schedule?(1)(2)(3)(4)PQsPQsPQsPQs$5012$5012$5011$50114220421142104210368369369369328328328328206206206206130135130135
A. Table (1)
B. Table (2)
C. Table (3)
D. Table (4)
Answer: C
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Answer the following statement(s) true (T) or false (F)
1. Risk assessment refers to onlythe quantitative evaluation of risk. 2. According to the EPA model of human health risk assessment, the risk assessment phase is comprised of five distinct steps. 3. In the first step of risk assessment, hazard identification, scientific information is used to determine if there is a causal relationship between a pollutant and its harmful effects. 4. All dose-response functions for environmental hazards have known thresholds. 5. Adults experience greater adverse health effects from exposure to lead than do children.
In the game in Scenario 13.5,
A) there is one equilibrium: for both to expand West. B) there is one equilibrium: for both to expand South. C) there are two equilibria: either can expand in the West, and the other expands in the South. D) there is only a mixed strategies equilibrium. E) all four outcomes are equilibria.
If a nation’s productivity grows by 3% rather than 1.5% over many years, what will be the difference in the nation’s standard of living? Explain
Please provide the best answer for the statement.
GDP understates the amount of economic production in the United States because it excludes:
A. Spending for the U.S. military B. Transfer payments C. Purchases of stocks and bonds D. Work performed by people for their own benefit