Table 5.4 -Table 5.4 Presents the Cost Schedule for David's Figs. If

question 79

Multiple Choice

Table 5.4
-Table 5.4 presents the cost schedule for David's Figs. If David produces two figs, David's marginal costs are

• A) $80.
• B) $90.
• C) $100.
• D) $170.

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Definitions:

Increasing Opportunity Costs

A situation where increasing production of one good requires larger and larger sacrifices in the production of another good due to limited resources.

Unemployment Rate

The ratio of the complete labor pool that is jobless yet is in active pursuit of employment and prepared to work.

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen over others.

Double Feature

The showing of two films for the price of one in a movie theater, traditionally a practice in the mid-20th century.