Refer to the information provided in Figure 16.2 below to answer the question(s) that follow.
Figure 16.2Refer to Figure 16.2. The ________ amount of cars is 35.
A. unregulated
B. subsidized
C. efficient
D. break-even
Answer: A
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Suppose Kate's Great Crete (KGC) has annual variable costs of VC = 30Q + 0.0025Q2 and marginal costs of MC = 30 + 0.005Q, where Q is the number of cubic yards of concrete it produces per year. In addition, it has an avoidable fixed cost of $50,000 per year. KGC's demand function is Qd = 20,000 - 400P. What is KGC's average cost function?
A. AC = (50,000/Q) + 50 + 0.005Q B. AC = (20,000/Q) + 30 + 0.005Q C. AC = (50,000/Q) + 30 + 0.0025Q D. AC = 50,000 + 30Q + 0.0025Q2
The theory that changes in the exchange rate reflect only changes in the price levels of two countries is called
a. the floating exchange rate theory b. the fixed exchange rate theory c. the flexible exchange rate theory d. purchasing power parity e. the managed exchange rate theory
In economics, which of the following is considered as financial capital?
a. Offices and warehouses b. Stocks and bonds c. Machinery d. Factories e. Equipment
If you have a chance to be a stand-up comic earning $2 million, a plumber at $100,000, or an assembly line worker at $20,000, and would be willing to work at any of these jobs for $20,000, how much would your economic rent be if (a) you were a stand-up comic? (b) you were a plumber? (c) you were an assembly line worker?
What will be an ideal response?