Question

If a firm produces nothing, _____ costs are zero, and the firm will incur _____ costs.

Question 32 options:

	variable; fixed
	fixed and variable; no
	fixed; variable
	opportunity; variable Column 1 displays the number of workers. Column 2 displays the total output associated with that number of worker(s). 0     0 1     10 2     25 3     38 4     47 What is the marginal productivity of the third worker? Question 31 options: 13 none of the above 38 10 True or False: Total cost is the amount a firm receives for its output, and total revenue is the market value of the inputs a firm uses in production. Question 30 options: True False A good that is both nonrival and nonexcludable is termed a Question 29 options: club good private good common resource public good For _______ externalities, government ________ them to increase the benefits generated. Question 28 options: negative; taxes positive; taxes positive; subsidizes negative; subsidizes I NEED ALL THE QUESTION TO BE ANSWERD

Answer 1

a) if firm didn't produce anything than variable cost is 0 and firm incur fixed cost

Option A

b) MPL( 3rd worker ) = TP ( 3rd worker) - TP ( second worker )

MPL = 38-25= 13

Option A

c) False , total revenue is the amount that firms receive from its output and total cost is market value of the inputs.

d) Public Goods Option D

Public goods is having a characteristic of non rival ( if consumption by one person doesn't effect consumption of other ) and non excludable ( once provided , we cant exclude members ) example , parks

e ) For positive externalities, government subsidize them in order to increase its benefit as now more of it will be produced .

Option C