For a construction company that builds houses, which of the following costs would be a fixed cost?
a. the $20 per hour wage paid to a construction foreman
b. the $30,000 per year salary paid to the company's bookkeeper
c. the $2 per worker-hour paid to the state government for workers' compensation insurance
d. All of the above are correct.
b
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A monopoly has ______ seller(s) in the market.
A. 0 B. 1 C. 3 D. many
Which of the following statements is not true?
a. The rate at which Bitcoins grow is very similar to Milton Friedman's k-percent rule. b. Bitcoins can be bought, traded, and earned by solving a time-consuming computer algorithm. c. Bitcoins are becoming more widely accepted by real-world merchants. d. All of these statements are true. None is false.
If the demand for textbooks is inelastic, then an increase in the price of textbooks will
a. increase total revenue of textbook sellers. b. decrease total revenue of textbook sellers. c. not change total revenue of textbook sellers. d. There is not enough information to answer this question.
The Three Key Federal Reserve Entities
What will be an ideal response?