Homework4 - 10/6/10 10:23 PM Homework 4 Completed 150 out...

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Unformatted text preview: 10/6/10 10:23 PM Homework 4 Completed 150 out of 150 points Question 1 10 out of 10 points Suppose the imposition of a tax on sellers shifts the supply curve from S0 to S1. Using the figure below, which of the following is false? Answer Selected Answer: Correct Answer: Question 2 10 out of 10 points When the size of the production is the most efficient: Answer Selected Answer: Correct Answer: Question 3 10 out of 10 points If the minimum wage is lowered closer to the market level, then: Answer Selected Answer: Correct Answer: Question 4 10 out of 10 points The elimination principle illustrates the idea that: Answer Selected Answer: Correct Answer: Question 5 10 out of 10 points Suppose a firm in PC industry has a fixed cost of $1,000,000 and a variable cost of $300 per unit. Calculate the marginal cost of the 20 th PC Answer Selected Answer: Correct Answer: Question 6 10 out of 10 points Since all competitive firms produce wherever marginal cost equals the market price for the product,...
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Homework4 - 10/6/10 10:23 PM Homework 4 Completed 150 out...

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