Marginal resource cost is defined as the
a. total cost of producing a unit
b. total cost of adding one more unit of a resource, other things constant
c. cost of adding one more unit of a resource, other things constant
d. marginal cost divided by the quantity of a resource
e. price of labor
C
Economics
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If your nominal income in 2014 was $50,000, and prices doubled between 2014 and 2017, to have the same real income, your nominal income in 2017 must be
A) $50,000. B) $75,000. C) $90,000. D) $100,000.
Economics
Which of the following refers to a natural monopoly?
a. A monopoly resulting from government control b. A monopoly resulting from economies of scale c. A monopoly resulting from output leadership d. A monopoly resulting from a large advertising budget e. A monopoly resulting from trade restrictions
Economics