Question

42. Most of the time, the opportunity cost of an input will be what you pay for it. Suomi a. True b. False 43. If there are economies of scope, an insurer that offers life insurance as well as health insurance will have higher costs. souborot olds nad svody bud a. True b. False Soos 44. Cost equals 20,000 + 10 x Quantity. If volume is 500, incremental cost will equal a. (20000 + 10 x 500) -(20000 + 10 x 499) / 500 - 499. b. $499. 13 top sdt bove c. $500. d. ((20000 + 10 x 500) - (20000 + 10 x 499))/(500 - 499). n Sgnlwollear to aid stat u

Answer 1

a) False, the opportunity cost is what we have given up to achieve that particular good.

b) False, if there are economies of scope he will be getting lower cost as a result of it.

c) "D"

The incremental cost of the marginal cost will be total cost of the additional good / change in the output.