The table below shows a pizzeria's fixed cost and variable cost at different levels of output. Pizza's sell for $20 each.Number ofPizzas Per DayFixed Cost($/Day)Variable Cost($/Day)050002550015050500250755004501005008501255001,650When the pizzeria makes 125 pizzas per day, its total revenue is:
A. $2,500
B. $125
C. $1,250
D. $20
Answer: A
You might also like to view...
The demand curve for tickets to the George Winston concert (with special guest star, Kenny G) is given as follows: Q = 200 - 0.1P At a price of $30, what is the consumer surplus from concert tickets?
A) $0 B) $20 C) $2,000 D) $1,970 E) $194,045
Norma receives an increase in her nominal income. She complains that the current inflation rate of six percent erodes the real purchasing power of her additional nominal income. This is true
a. only if the increase in her nominal income is less than six percent. b. only if the increase in her nominal income is more than six percent. c. since inflation always reduces purchasing power. d. only if her real income increases.
Charisse is of the opinion that the interest rate depends on the economy's saving propensities and investment opportunities. Most economists would say that Charisse's opinion is
a. Keynesian in nature, and that her view is more valid for the long run than for the short run. b. classical in nature, and that her view is more valid for the long run than for the short run. c. Keynesian in nature, and that her view is more valid for the short run than for the long run. d. classical in nature, and that her view is more valid for the short run than for the long run.
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.