When a firm produces 50,000 units of output, its total cost equals $6.5 million. When it increases its production to 70,000 units of output, its total cost increases to $9.4 million. Within this range, the marginal cost of an additional unit of output is

What is a factor market?

A) It is a market where financial instruments are traded. B) It is a market where resources used to produce final goods are traded. C) It is a market where stocks and bonds are traded. D) It is a market where producers buy consumption and capital goods.

The principal reason why Thailand, Indonesia, and South Korea feared the effects of appreciation of the U.S. dollar in 1995-1997 was that

a. it would increase exports from these countries and worsen Japanese. b. it would increase exports from these countries and worsen unemployment. c. it would decrease exports from these countries since their currencies were tied to the dollar. d. it would decrease imports to these countries since their currencies were tied to the dollar.