If you can download 10 ring tones for your cell phone for $10 or you can download 11 ring tones for your cell phone for $10.50, then the marginal cost of the eleventh ring tone is
A. $0.50.
B. $10.00.
C. $10.50.
D. $20.50.
Answer: A
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Which measure of inflation would include consumer goods and capital goods?
A. the Consumer Price Index B. the Retail Trade Survey C. the GDP Price Index D. the Employment Cost Index
Identify the two losses of efficiency associated with the imposition of a tariff
What will be an ideal response?
Suppose that last year $1 U.S. exchanged for 1.2 euros. If this year $1 exchanges for 1.3 euros, then we can conclude that
A) the dollar is weaker this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the left. B) the dollar is weaker this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) to shift to the right. C) the dollar is stronger this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the left. D) the dollar is stronger this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the right.
Barter requires a double coincidence of wants. This means that:
a. at least two traders must demand a commodity. b. any two traders involved in a transaction must have money. c. each trader must demand at least two commodities. d. either of the two traders involved in a transaction must have money. e. when two traders are involved in a transaction each trader must want what the other has to offer.