Suppose Chris is a potter who makes mugs. His total costs depend on the number of mugs he makes each day, as shown in the accompanying table.Number of Mugs Per DayTotal Cost Per Day0$101$142$193$254$325$406$49 When Chris produces 5 mugs per day, his average variable cost is ________.
A. $30
B. $6
C. $40
D. $8
Answer: B
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The advantages of the M-Form of firm organization is
a. divisions can respond more easily to change b. it is easier to maintain customer relationships c. there is less coordination across the firm's divisions d. all of the above
The central bank of the United States is known as the
A. Internal Revenue Service. B. Federal Reserve System. C. Federal Deposit Insurance Corporation. D. Department of Commerce.
Real federal spending on Health Care functions has
A. decreased markedly with small increases in early-1980s. B. bounced around with no apparent pattern. C. remained constant since 1960. D. risen constantly since 1960.
Refer to the information provided in Figure 18.1 below to answer the question(s) that follow.
Figure 18.1Refer to Figure 18.1. Suppose that the Lorenz curve ran along the horizontal axis to 100% of families, then became vertical to 100% of income. This would mean that
A. the distribution of income is perfectly equitable. B. the distribution of income is equal. C. only one family earned all the income. D. the distribution of income is completely inequitable.