If a Ton of Steel Sells for $15,000 and a Car

question 41

Multiple Choice

If a ton of steel sells for $15,000 and a car made from a ton of steel sells for $30,000, then if all markets are perfectly competitive, how many cars can be made from the last ton of steel used by a profit-maximizing firm?

• A)1/3 car
• B)1/2 car
• C)1 car
• D)1.5 cars

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Definitions:

Gestational Period

The duration of pregnancy, typically measured from the first day of the last menstrual period to birth, approximately 40 weeks in humans.

Spermatic Cord

A bundle of fibers and tissues that run through the abdomen to the testes, containing blood vessels, nerves, and the vas deferens.

Ductus Deferens

A muscular tube in the male reproductive system that transports sperm from the epididymis to the ejaculatory ducts.

Epididymis

A long, coiled tube attached to the back of each testis where sperm mature and are stored.