If the total cost of production for 1000 widgets is $2000 and marginal cost is constant at $1, what is the average fixed cost for the 1000 widgets?
A) $2
B) $1.50
C) $1
D) $0.50
C
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Bob plans to spend $60 per month on DVD movie rentals and CDs. The price of a movie rental is $3 and the price of a CD is $15. If Bob rents 5 DVDs per month, how many CDs can he buy?
A) 1 B) 2 C) 3 D) 4
Which of the following statements are TRUE?
A) A bank's assets are its sources of funds. B) A bank's liabilities are its uses of funds. C) A bank's balance sheet shows that total assets equal total liabilities plus equity capital. D) A bank's balance sheet indicates whether or not the bank is profitable.
A physician's ability to induce demand is greatly enhanced when
a. patients pay their own medical bills. b. patients request follow-up visits. c. patients have difficulty gathering and processing information. d. the physician follows strict treatment guidelines. e. treatment options are limited.
An appreciation of the U.S. dollar would
a. encourage foreigners to invest in the United States. b. discourage foreigners from buying U.S. goods. c. discourage the travel abroad of U.S. citizens. d. encourage foreign travel in the United States.