Cost Table Q TC ATC MC 0 $15,000 [ATC1] [MC1] 100 $30,000 [ATC2] [MC2] 200 $40,000 [ATC3] [MC3] (Each selection is worth 1 point each) Complete the cost table given above by calculating the average total cost (ATC) and marginal cost (MC) associated with each quantity. Each answer should include a dollar sign at the beginning of the number. If an answer is not a whole number please type the answer out to two decimal places. If an answer does not exist type “DNE” but do not include the quotation marks.  

State whether the following scenarios will tend to understate, overstate, or appropriately express CPI inflation. Netflix increases its subscription price and adds hundreds of new movies and original programming to its menu. [parta] During the pandemic, Chez Fonfon, an upscale dine-in French bistro in Birmingham, AL started selling its meals as take-out but kept its prices unchanged. [partb] As eggs become more expensive, consumers switch to cheaper plant-based egg substitutes, which are not yet included in the CPI. [partc]

Each part of this question will be worth 3 points. State whether the following questions are “true” or “false.” You must explain your reasoning to receive full credit. Please record your answer by typing the letter that corresponds to the part you are answering. For example, if you are answering part a, type “A) your answer.”  A binding price ceiling must be set above the equilibrium price. Consider a $5 unit tax imposed on a market. Holding other things constant, the consumers’ economic tax incidence will be higher if they bear the statutory burden compared to if suppliers bear the statutory burden. The difference between a tariff and an import quota is that consumer surplus falls when a tariff is applied, but not when a quota is applied. A price floor, such as the minimum wage, creates a surplus. A price ceiling, such as rent control, creates a shortage. Under a tariff, prices of imported cars increase but prices of domestically produced cars do not change.

Match the following statements to the term that best describes it. Terms might be used multiple times or not at all.  

Each part of this question will be worth 3 points. State whether the following questions are “true” or “false.” You must explain your reasoning to receive full credit. Please record your answer by typing the letter that corresponds to the part you are answering. For example, if you are answering part a, type “A) your answer.”  A good is considered scarce only if it is rare. Thus, gold is scarce, but bread is not scarce. Positive economics is the evaluation of policies that are good for the economy while normative economics is the evaluation of what the economist thinks the policy should be. If one chooses to go to a baseball game, the opportunity cost of this choice is the sum of the value of all other choices one gave up to go to the game. From a legal point of view, property rights are an example of a formal institution while religion is an example of an informal institution. If a salesman wants a courier he hires to deliver an important package without any damages, he should give the courier a big tip when the courier picks up the package.

“Wher e the facts and circumstances within the officers’ knowledge and of which they had reasonably trustworthy information is sufficient to warrant a person of reasonable caution in the belief that an offense has been or is being committed” is the Supreme Court’s definition of:

Approximately what percent of exit radiation is absorbed by the first component of the image intensifier?

The filtration of a fluoroscope serves to:

The image intensifier was developed in the:

What is the magnification for an image view with an image intensification tube where the input screen diameter is 12 inches and a 2 inch diameter is used in magnification mode?