Lucy is a young entrepreneur who sells lemonade from her lemonade stand in her driveway on Saturday afternoons. During the first hour, Lucy sells 30 glasses of lemonade and incurs an average variable cost of $0.20. Lucy's _________ for the first hour are __________
Fill in the blank(s) with the appropriate word(s).
Answer: variable costs; $6.00
You might also like to view...
The ability of employers to increase their net revenue by paying low wages is limited primarily by
A) federal and state legislation. B) the fact that net revenue is maximized when marginal revenue equals marginal cost. C) the other opportunities available to employees. D) the right of labor unions to strike.
If Pastry Paradise takes over Sweet Tooth, at what level of production would it be indifferent between which technology is used
a. 500 b. 750 c. 250 d. 125
The civilian labor force excludes anyone not actively seeking a job
a. True b. False Indicate whether the statement is true or false
Banks must keep an amount equal to a percentage of their deposits on hand as:
A. savings accounts. B. excess reserves. C. required reserves. D. safe deposit reserves.