The cost to a cab driver of taking the day off increases when:
A) it rains.
B) the price of gasoline rises.
C) it is sunny.
D) more cabs enter the business.
Correct Answer:
Verified
Q1: Suppose TP(L)=5L2+40. MP(L)is:
A)10L.
B)10L + 40.
C)5L + 40.
D)10L
Q2: Marginal product:
A)is the slope of the total
Q3: Suppose TP(L)= 5L2 + 40. AP(L)is:
A)5L +
Q4: Given the production function y = min
Q6: If MC in plant 1 is 5
Q7: The US "cash for clunkers" program took
Q8: Advertising costs are:
A)avoidable and fixed.
B)fixed and sunk.
C)variable
Q9: The higher the level of FC:
A)the lower
Q10: K and L are perfect substitutes in
Q11: Figure 6A
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