Straker Industries estimated its short-run costs using a U-shaped average variable cost function of the formAVC = a + bQ + cQ2and obtained the following results. Total fixed cost (TFC) at Straker Industries is $1,000. If Straker Industries produces 20 units of output, what is estimated short-run marginal cost (SMC)?

The HPV vaccine protects against human papillomavirus (HPV) that causes cancer. It protects both the person getting the vaccine and the sexual partners of that person. In a private market with no government intervention, the equilibrium will be

A) overprovision of the HPV vaccine and a deadweight loss. B) overprovision of the HPV vaccine but no deadweight loss. C) underprovision of the HPV vaccine but no deadweight loss. D) underprovision of the HPV vaccine and a deadweight loss.

If the average total cost of producing 20 sweaters an hour falls when the firm doubles all its inputs, then the

A) short-run average total cost curve shifts upward because all inputs have increased. B) firm moves along its short-run average total cost curve. C) firm experiences economies of scale. D) long-run average cost curve shifts downward.