Refer to the below table. How many units of resource Y would the firm employ at a price of $50 per unit of Y?
Assume that the quantities of other resources employed by the firm remain constant.
B. 3
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According to the text, because people in an urban-industrial society will always disagree to some extent about who ought to have which rights,
A) it is unreasonable to expect negative externalities to be completely eliminated. B) negative externalities cannot be reduced without government coercion. C) negative externalities should not be thought of as the consequence of disagreement over property rights. D) there is no point in discussing the matter. E) we must depend upon government to decide exactly what should be prohibited or commanded.
Julie is the chief executive officer (CEO) of the Black Gold Corporation and is also on the company's board of directors. Julie is considered ________ of the corporation
A) an outside director B) a stockholder C) an owner D) an inside director
If variable cost at each output level doubles,
a. ATC doubles. b. AFC doubles. c. MC remains unchanged. d. MC doubles. e. MC less than doubles.
If average fixed costs equal $60 and average total costs equal $120 when output is 100, the total variable cost must be:
A. $40. B. $60. C. $6,000. D. $8,000.