High money prices for scarce goods
A) are one among many possible causes of their scarcity.
B) are the basic cause of their scarcity.
C) are the effect of their scarcity.
D) have nothing to do with their scarcity, because almost all goods are scarce.
C
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A firm has a fixed cost of $700 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000 . The marginal cost of producing the 100th unit of output is $200 . What is the total cost of producing 100 units?
a. $42 b. $900 c. $4,200 d. $4,900
At the beginning of 2018, the Shades of Gray Company has 8,000 pairs of sunglasses in stock. During 2018, the company produces 120,000 pairs of sunglasses and sells 112,000 pairs of sunglasses. The Shades of Gray Company's stock of inventory at the end of 2017 is ________ pairs of sunglasses.
A. 0 B. 4,000 C. 8,000 D. 16,000