Refer to Figure 8.1 above. The total fixed costs for Cyndy's Floral Arrangements are $1,000. If Cyndy's Floral Arrangements produces 200 silk flower arrangements, the average fixed costs are
A) $.20.
B) $5.
C) $20.
D) $200.
B) $5.
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Refer to Figure 23-1. If the economy is at point J, what will happen?
A) Inventories have fallen below their desired level, and firms increase production. B) Inventories have risen above their desired level, and firms increase production. C) Inventories have risen above their desired level, and firms decrease production. D) Inventories have fallen below their desired level, and firms decrease production.
"Even if there is a liquidity trap or interest-insensitive investment, a falling price level will increase the real money supply and real wealth, and this impacts consumption"
This is a statement a __________ economist might make as an explanation of why the economy __________ pull itself out of a recession. A) Classical; will B) Classical; may not be able to C) Keynesian; will D) Keynesian; may not be able to
For a given decrease in demand, the effect on price is smallest and the effect on quantity exchanged largest when: a. supply is perfectly elastic
b. supply is elastic. c. supply is unit elastic. d. supply is perfectly inelastic.
The entry of a second firm shifts the demand curve of the original firm to the left ?, so that at each price the original firm will sell a decreased quantity.
The entry of a second firm shifts the demand curve of the original firm to the
so that at each price the original firm will sell
quantity.