Marginal cost is the
a. change in total cost resulting from producing one more unit of output.
b. change in total fixed cost resulting from producing one more unit of output.
c. total cost when one more unit of output is produced.
d. total fixed cost when one more unit of output is produced.
a. change in total cost resulting from producing one more unit of output.
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Discuss how tax burdens are related to the elasticity of labor.What do most economists believe is true about the elasticity of labor supply in the United States and the burden if any that workers bear?
What will be an ideal response?
Which of the following is an example of an actual cartel?
a. the three largest cereal producers in the United States b. General Motors, Ford, and Chrysler c. the Organization of Petroleum Exporting Countries (OPEC) d. the three major U.S. cigarette manufacturers e. U.S. television networks -- ABC, NBC, CBS, and Fox