A bill of exchange necessitated the use of coin and bullion and thus restricted the growth of commercial trade
Indicate whether the statement is true or false
False
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If you know that total fixed cost is $200, total variable cost is $600, and total product is 4 units, then average total cost must be
A. $200. B. $250. C. $3,200. D. $800.
Explain the key distinction between technological efficiency and economic efficiency
What will be an ideal response?
A publisher sells $400,000 worth of books, magazines, and other reading materials in a given year. The publisher earns a profit of $100,000 that year. Her purchase invoices indicate that she bought $100,000 worth of glue, paper, and other materials during the year. Her labor costs were $150,000, and she purchased $45,000 of new equipment that year. Calculate her tax liability under a 12% consumption-type, value-added tax.
What will be an ideal response?
If a firm in a competitive market is currently producing a quantity where price exceeds the marginal cost, the firm should lower its price
Indicate whether the statement is true or false