Suppose That the Joint Cost (In Dollars) for Two Products

question 54

Multiple Choice

Suppose that the joint cost (in dollars) for two products is given by , where x represents the quantity of product X produced and y represents the quantity of product Y produced. Find and interpret the marginal cost with respect to y if 6 units of product X and 10 units of product Y are produced. ​

• A) If x remains at 6, the expected change in cost for an 11^th unit of y is $32.
• B) If x remains at 6, the expected change in cost for an 11^th unit of y is $15.
• C) If x remains at 6, the expected change in cost for an 11^th unit of y is $20.
• D) If x remains at 6, the expected change in cost for an 11^th unit of y is $36.
• E) If x remains at 6, the expected change in cost for an 11^th unit of y is $51.

Compare and contrast the theories of social entrepreneurship with theories of leadership.

Identify the disruptive strategies used in social entrepreneurship.

Assess social entrepreneurs' tolerance for ambiguity.

Understand global governments' perceptions of social entrepreneurship.

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Definitions:

Imports

Goods or services brought into one country from another for the purpose of trade or sale.

Business Cycle

The cyclical fluctuations in economic activity and growth that an economy experiences over time, typically consisting of expansion, peak, contraction, and trough phases.

Pharmaceuticals

Substances or products used in the diagnosis, treatment, or prevention of diseases and medical conditions.

Contraction

A phase in the business cycle where the economy as a whole is in decline, often leading to lower employment and production.