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53. Costs of Production 1 (ID: 124.13.1 [c nuns) Sebastian decides to open a tree farm. When deciding to open his own business, he turned down two separatejob offers of $25,000 and $30,000 and withdrew $20,000 from his savings. Sebastian's savings account paid 3 percent interest. He also borrowed $20,000 from his brother, whom he pays 2 percent interest per year. He spent $15,000 to purchase supplies and earned. $50,000 in revenue during his rst year. What are Sebastian's implicit costs from running his awn business? a. $30,600 Ob. $55,600 0c. $50,000 0d. $75,600 59. Costs of Production 2 (ID: 044.13.4 - lC - IANKOB) Firms may experience diseconomies of scale when 03. they are too small to take advantage of specialization. Ob. large management structures are bureaucratic and inefficient. OE. there are too few employees, and managers do not have enough to do. 0d. average fixed costs begin to rise again. 60. Costs of Production - 3 (ID: 058. 13. 2 - MC - MANKO8) Table 13-5 Number of Output Workers 10.000 2 19.000 3 27,000 4 32.000 5 35.000 6 36.000 Refer to Table 13-5. The marginal product of the fourth worker is Ca. 9,000 units. Ob. 8,000 units. Oc. 7,000 units. Od. 5,000 units.31. Externalities - pollution, conceptual An enthusiastic environmentalist initiates a viral signature campaign demanding that, in order to alleviate global warming, the United Nations Convention for Climate Change should adopt a goal of zero carbon emissions. Why would you, as would most economists, disagree with the adoption of such a zero-emissions goal? There is no benefit to be gained by society from zero carbon emissions. O Firms making private decisions is the most efficient way to determine carbon emission levels. O The environment has degraded so much that no policy can stop the end of the world. O The opportunity cost of zero carbon emissions is much higher than the benefit to be gained from it. Save & Continue Continue without savingWhich of the following suggests that private markets can be effective in dealing with extemalities? 03. the "invisible hand" Oh. the law of diminishing social returns C. the Cease theorem ()1. technology policy