Author Question: Imagine you own a machine that produces perfectly authentic and legal 100 bills. You would use this ... (Read 36 times)

maegan_martin · **on:** Jun 30, 2018

Imagine you own a machine that produces perfectly authentic and legal 100 bills. You would use this machine until:
a. the bills became worthless.
b. the total cost began to fall.
c. the marginal cost was 100.
d. the variable cost began to rise.
e. the marginal revenue began to fall.

Question 2

In Exhibit 5-9, the price elasticity of supply for good X between points A and E is:
a. 3/5 = 0.60.
b. 5/3 = 1.66.
c. 1/2 = 0.50.
d. 1.