Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow.  Figure 8.5 Refer to Figure 8.5. If six drones are produced, average fixed costs are

A. $2.50.
B. $8.33.
C. $13.33.
D. $21.67.


Answer: B

Economics

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One reason stagflation is difficult to recover from is because:

A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.

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For a firm selling its product in a purely competitive market, the marginal revenue product of labor can be found by:

A. adding marginal product to total product as one more unit of labor is employed. B. adding marginal revenue to total product as one more unit of labor is employed. C. multiplying marginal product by product price. D. dividing marginal product by product price.

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Which of the following would be classified as a public good?

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Economics