The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the variable cost?
A) 200
B) 5Q
C) 5
D) 5 + (200/Q)
E) none of the above
B
Economics
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Refer to Figure 18.4. With a tariff or quota, what is the equilibrium quantity of gloves in Duckland?
A) 100 B) 80 C) 60 D) 40
Economics
Having a comparative advantage means a nation can
A) benefit from trade. B) produce at a higher opportunity cost. C) produce more of the good. D) produce without incurring an opportunity cost. E) produce the good at a point beyond its PPF.
Economics