If the total cost to produce 120 units of output is $490 but the total cost of producing 130 units of output is $520, then for the last ten units of output, the marginal cost was: a.$4.00 per unit b.$3.00 per unit c.$4.08 per unit d.$3.77 per unit Which of the following government interventions causes the quantity of the good that is bought and sold to increase? Select one or more:
i. Price Floors
II. Price Ceilings
III. Subsidies
IV. Taxes The study of strategic decision-making that is useful in analyzing oligopolies is known as: a. prisoner theory. b. Nash equilibrium theory. c. game theory. d. strategy theory. Pure public goods are: a. rare. b. neither excludable nor rival. c. non-existent
d. common.
Marginal cost is: a.the change in total cost from producing one more unit of output. b.average cost times output. c.total cost divided by the change in total output. d. the change in total output divided by the change in total cost.