ms rise and product vanicty I in the t Podu atiety in the market increases 37. A
ID: 1129902 • Letter: M
Question
ms rise and product vanicty I in the t Podu atiety in the market increases 37. A firm is considering buying one o product of eapital of $8, 300 per yeut wo lechnulopies. Technology A has an estimated marginal revenue annually and p riety in the market inc in the market decreases luct of capital o0es pan of 4 years; Technology IB has an estimated marginal Each technology would,omper year and a lifespan o Technology B; i t has the highest present value ears. The interest rate is constant at 6% The fi would purchase neither technology A or B. irm $29, 000. Which technology should the firm purchase? c. Technology A; it has the highest present value d. Technology B; it has a higher marginal revenue product than technolo 38. At "Bake My Day", t cake is $32. Which of the following is correct? a. The total cost of 21 cakes is $568. b. The average variable cost of 21 cakes is $23 c. Bake My Day is experiencing diminishing marginal productivity. d. The average total cost of 21 cakes is $25.33 e total cost of producing 20 cakes is $500. The marginal cost of producing the 21st 39. What effect is due to a price change that moves the consumer along the same indifference curve to a point with a new marginal rate of substitution? a- the substitution effect d. the income effect for sports trucks are elastic. If the government imposes a Ssco Assume that the demand and supply cur sme will happen to the price of a truck? on the buyer of each truck, wat canwerease by exactly s500. a. The equilibrium price of a truck Will increase by exactly $500. b. The equilibrium price of a truck wi increase by less than $500. c. The equilibrium price of a truck will decrease by less than S500. d. The equilibrium price of a truck inn charagcteristic of arange f outputExplanation / Answer
Total cost of producing 20 cakes = $500
Marginal cost of producing 21st cake = $23
Therefore, total cost of producing 21 cakes = 500 + 23 =$523
Average cost of 21 cakes = 523 / 21 = $25.33
OPTION D
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