At an output of 20,000 units per year, a firm's variable costs are $80,000 and its average fixed costs are $3. The total costs per year for the firm are:
A. $80,000
B. $100,000
C. $140,000
D. $240,000
C. $140,000
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All else equal, an increase in government borrowing is likely to cause a(n):
A) leftward shift of the credit demand curve. B) rightward shift of the credit demand curve. C) downward movement along the credit demand curve. D) upward movement along the credit demand curve.
Use the above table. What percentage of income is received by the richest 20% of the population?
A) 33.33 percent B) 16.67 percent C) 11.11 percent D) 40.00 percent
Government regulation of the prices charged by monopolies is an example of
a. safety regulation b. economic regulation c. Herfindahl regulation d. antitrust regulation e. antimerger regulation
If a firm in a perfectly competitive market faces a market price of $4, and it decides to produce 700 units, the firm's average revenue will be:
A. $4. B. $2,800. C. $175. D. $700.