Food is an example of a ________ good
A) nonrival and nonexcludable
B) rival and excludable
C) nonrival and excludable
D) rival and nonexcludable
B
Economics
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A farmer discovers that the total cost of growing 50 acres of eggplant is $50,000 and that the total cost of growing 51 acres of eggplant is $52,000. The marginal cost of the 51st acre of eggplant is
A) $52,000. B) $50,000. C) $2,000. D) $1,000.
Economics
Refer to Scenario 14.3. What is the marginal profit from hiring the third unit of labor?
A) 30 B) 65 C) 85 D) 225 E) none of the above
Economics