Author Question: The above (incomplete) table provides information about the relationships between output and various ... (Read 17 times)

jho37 · **on:** Jun 29, 2018

The above (incomplete) table provides information about the relationships between output and various cost measures. The marginal cost per unit when increasing output from 14 to 17 units is

A) 20.
B) 30.
C) 380.
D) None of the above answers is correct.

Question 2

The Wii is a wildly popular home video game console released by Nintendo. The Wii system was first available in the U.S. in November, 2006 and has sold more than 30 million units as of August 2010. The Wii retails for 199.

Suppose Ahmed is willing to pay 230, Lana is willing to pay 175, and Bodie is willing to pay 300 for a Wii. What is the value of Lana's consumer surplus? A) No consumer surplus is generated because Lana will not buy the Wii.
B) 249
C) 225
D) 24