In the above table, what is the marginal cost to produce the 4th unit of output?

The price tag on a pair of Nike shoes illustrates how money performs the function of a

A) standard of deferred payment. B) store of value. C) unit of accounting. D) medium of exchange.

Competition among sellers occurs

A) when marginal revenue equals marginal cost. B) when price equals marginal cost. C) when price equals marginal revenue. D) whenever sellers try to attract customers from one another.