Refer to Table 11-7. What is the marginal cost per unit of production when the firm produces 100 lanterns?

In the term "real GDP," what does "GDP" stand for and what does it measure? What does "real" indicate?

What will be an ideal response?

If an airport decides to expand by building an additional passenger terminal, and in doing so it lowers its average cost per airplane landing, then the expansion would provide ________ to the airlines

A) higher marginal costs but lower total costs B) higher average costs but lower total costs C) economies of scale D) diseconomies of scale