Marginal cost is equal to the
A) change in total cost divided by the change in output.
B) change in average total costs divided by the change in output.
C) change in average product divided by the change in output.
D) change in total product divided by the change in output.
A
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A consumer values a car at $30,00 . and a producer values the same car at $20,000 . If the transaction is completed at $24,000 . what level of tax rate will result in unconsummated transaction?
a. 0% b. 25% c. 20% d. 40%
When Acme Dynamite produces 250 units of output, its variable cost is $2,000, and its fixed cost is $500. It sells each unit of output for $25. If the price of dynamite drops to $10, should Acme Dynamite continue to operate in the short run?
A. No, because price is less than average total cost. B. Yes, because price is greater than average variable cost. C. Yes, because price is less than average variable cost. D. No, because price is not greater than average total cost.