The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the marginal cost?
A) 200
B) 5Q
C) 5
D) 5 + (200/Q)
E) none of the above
C
Economics
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The marginal product of labor is the
A) change in total product produced by hiring an additional unit of labor. B) total revenue divided by units of labor. C) extra revenue gained by selling one more unit of output produced by hiring additional units of labor. D) extra revenue gained by employing one more unit of labor.
Economics
The slope of an isocost line determines the marginal rate of substitution
Indicate whether the statement is true or false
Economics