In the above table, what is the average variable cost to produce 2 units of output?
A. $60
B. $20
C. $55
D. $25
Answer: D
You might also like to view...
If Les can produce two pairs of pants per hour while Eva can produce one pair per hour, then it must be true that:
A. Eva has a comparative advantage in producing pants. B. Les has a comparative advantage in producing pants. C. Les has an absolute advantage in producing pants. D. Les has both comparative and absolute advantage in producing pants.
A nation practicing mercantilism aims to
a. keep the government out of the economy. b. establish an excess of exports over imports. c. balance imports with exports. d. replace gold and silver with paper money. e. reduce the size of the military sector.
Which of the following will shift an economy's production possibilities curve outward?
A. An improvement in technology B. An increase in the unemployment rate C. A decrease in land, labor or capital D. A decrease in the unemployment rate
The following national income data for an economy are in billions of dollars
Refer to the above data. The net private domestic investment in this economy is equal to:
A.
$1,793 billion
B.
-$424 billion
C.
$200 billion
D.
$1,643 billion