The manager of Greene Enterprises, Inc., recently estimated its average variable cost (AVC) function to beAVC = 88 - 0.026Q + 0.000003Q2Greene Enterprises faces total fixed costs (TFC) of $300,000. If Greene Enterprises produces 6,000 units of output, what is estimated short-run marginal cost (SMC)?

Recall the Application. In response to the financial crisis, the Fed implemented a new policy in which it began to pay interest on deposits held at the Fed

This move would ________ deposits held at the Fed and ________ the Fed's ability to make loans. A) increase; decrease B) decrease; decrease C) increase; increase D) decrease; increase

A single production possibilities frontier assumes

A) a given set of resources. B) only one good can be produced from a given set of resources. C) resources are free. D) there are no opportunity costs of production. E) all of the above.