A sole proprietorship is a business form in which

If the total cost of producing 6 units is $228 and the total cost of producing 7 units is $245, what is the marginal cost of producing the seventh unit?

____ are goods that are available free to all consumers once they are produced.

An import constitutes a

A situation where bad quality drives good quality out of a market is known as

Table 1.1 Total Output (Q) Total Cost (TC) 0 1 2 3 4 5 6 7 8 1,000 2,000 2,800 3,500 4,000 4,500 5,200 6,000 7,000 Refer to Table 1.1. Average total cost (ATC) at 8 units of output is $___

Table 1.1 Total Output (Q) Total Cost (TC) 0 1 2 3 4 5 6 7 8 1,000 2,000 2,800 3,500 4,000 4,500 5,200 6,000 7,000 Refer to Table 1.1. Marginal cost (MC) of the second unit of output is $___

Police and fire protection are often provided by government because

When workers are passed over for promotion because of their gender, race, age, or religion, this is called __________

The additional cost a firm incurs from selling an extra unit of output is