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Title: The change in total cost from producing another unit of output equals the : Post by: queeny on Feb 26, 2018 The change in total cost from producing another unit of output equals the
A) average total cost. B) variable cost. C) average variable cost. D) marginal cost. Ques. 2 Market failure is the situation in which a market delivers an inefficient outcome. Indicate whether the statement is true or false Ques. 3 If the demand is perfectly elastic, buyers pay the entire tax. Indicate whether the statement is true or false Ques. 4 If a firm spends 600 more on advertising, its goal is for the demand curve for its product to shift ________ and its marginal revenue curve to shift ________. A) leftward; rightward B) leftward; leftward C) rightward; leftward D) rightward, rightward Ques. 5 A student wrote: Monopolistic competition is a market structure in which a small number of firms compete by making an identical product. If you were the instructor, how would you correct this statement? What will be an ideal response? Ques. 6 Suppose that there are only two types of used cars, peaches and lemons. Peaches are worth 10,000, and lemons are worth 4,000. If the market is such that only lemons are sold, then used cars are A) experience goods and the used car market has effective signals. B) experience goods and the used car market lacks effective signals. C) not experience goods and the used car market has effective signals. D) not experience goods and the used car market lacks effective signals. Ques. 7 When the price of Ford pickup trucks rises from 18,000 to 19,000, the quantity of Chevy trucks demanded increases from 112,000 to 144,000. What is the cross elasticity of demand between Ford and Chevy trucks? What will be an ideal response? Ques. 8 The tragedy of the commons is the absence of incentives to A) correctly measure the marginal social benefit from a common resource. B) prevent under use of the common resource. C) prevent overuse and depletion of a common resource. D) discover the common resource. Title: The change in total cost from producing another unit of output equals the : Post by: Zhengbo Yin on Feb 26, 2018 Content hidden
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