Allied Business Consultants employs five researchers that each work 8 hour days. In one day the researchers prepared 10 reports for its 2 largest clients. What was Allied Business Consultants' productivity?
a. 10 reports
b. 5 reports per client
c. 1.25 reports per hour
d. 1/4 report per hour
d
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Answer the next question on the basis of the following cost data for a perfectly competitive firm.Total ProductAverage Fixed CostAverage Variable CostAverage Total CostMarginal Cost1$100.00$17.00$117.00$17250.0016.0066.0015333.3315.0048.3313425.0014.2539.2512520.0014.0034.0013616.6714.0030.6714714.2915.7130.0026812.5017.5030.0030911.1119.4430.55351010.0021.6031.6041119.0924.0033.0948128.3326.6735.0056Which of the following represents the firm's short-run supply schedule?(1)(2)(3)(4)PQsPQsPQsPQs$5012$5012$5011$50114220421142104210368369369369328328328328206206206206130135130135
A. Table (1) B. Table (2) C. Table (3) D. Table (4)
Which of the following institutions is the most important participant in foreign currency markets?
A) A retail customer B) A commercial bank C) A foreign exchange broker D) A central bank E) None of the above.
The price-output combination that maximizes profits for a monopolist occurs at the point where
A) total revenues and total costs are equal. B) the difference between total revenues and total costs is the greatest. C) total revenues are the greatest. D) the elasticity of demand equals one.
In the long run, the expansion path is
A) horizontal. B) vertical. C) diagonal. D) Not enough information.