The shutdown point is the point at which price equals minimum average _____ cost and the quantity produced is that at which average _____ cost is at its _____.
A. variable; variable; minimum
B. total; total; minimum
C. fixed; fixed; maximum
D. total; total; maximum
Answer: A) Variable; Variable; Minimum
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The above figure shows the domestic market for wheat. Suppose this market is isolated from global competition and the government intervenes by setting a support price of $15 a ton. The quantity produced once the price support is in place is
A) 400 million tons. B) 300 million tons. C) 100 million tons. D) 250 million tons. E) 200 million tons.
Super Haulers is a hauling company and delivers large and heavy materials to construction job sites. Super Haulers is considering purchasing a new dump truck that costs $200,000 and the managers of Super Haulers have estimated that the new dump truck will generate $50,000 a year in future operating profit for the next four years. At the end of four years, Super Haulers can sell the dump truck at
a salvage price of $26,000. If the discount rate is 6 percent, what is the net present value of the dump truck? A) -$6,150 B) $3,583 C) $5,228 D) -$744
The proposed GHG controls on stationary sources in the United States
a. recommends the use of permits with no emissions standards b. involve subsidies for the development of new abatement technologies c. include permitting requirements and emissions standards d. recommend significant monetary penalties on power plants releasing GHGs
Unemployment compensation is a ________ government transfer program.
A. municipal B. state C. federal D. local