If Gorgeous Sands Resort has a constant marginal cost of $20,000 for each resort unit and a constant marginal cost of $500 for operating each resort unit, what is Gorgeous Sands Resort's long-run marginal cost per resort unit?
A) $19,500 B) $20,500 C) $500 D) $20,000
B) $20,500
Economics
You might also like to view...
Prices for industrial commodities such as steel rods or machine tools are
A) heavy prices. B) custom prices. C) auction prices. D) sticky prices.
Economics
Suppose a plaintiff hires a lawyer to represent her in a court case. The lawyer will be paid a fixed fee. Under this contract,
A) production efficiency is achieved. B) the client bears all of the risk. C) the lawyer has an incentive to lie about his hours worked. D) All of the above.
Economics