Help please Output Total Cost 0 18 25 36 48 65 84 4 6 Refer to...

Question

Question

Help please

Answer 1

Answer #1

Q.1. Ans: B) $8

Explanation:

Fixed costs are those costs which are not changed with the change in the production process. So fixed cost is there even at zero level of output.

Q.2.Ans: D) 4

Explanation:

MU_B / P_B = MU_N / P_N

MU = Marginal utility

P = Price

Budget line (M) = ( $30 * 4 ) + ( $20 * 4 ) = $200

Q.3.Ans: C ) 16 billion

Explanation:

GDP = C + I + G + ( X - M )

= 12 + 2 + 3 - 1

= 17- 1

= 16

Where (X-M ) refers to net exports.

Answer 2

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