The above table gives some cost data for Peter's Pickles. Peter's fixed cost is $20. His total cost of producing 6 barrels of pickles is
A) $160.
B) $180.
C) $450.
D) There is not enough information to answer the question.
B
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The equation of exchange states
Full employment is the situation in which the economy operates at an unemployment rate equal to the sum of:
A. structural and frictional unemployment. B. cyclical and frictional unemployment. C. structural and cyclical unemployment. D. structural, frictional, and cyclical unemployment.
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.
The growing popularity of energy conservation has enticed large home improvement stores like Home Depot and Lowes to offer tankless water heaters. How does the fact that home improvement stores now offer these products affect the tankless water heater
market? A) The demand curve for tankless water heaters shifts to the right. B) The demand curve for tankless water heaters shifts to the left. C) The supply curve for tankless water heaters shifts to the right. D) The supply curve for tankless water heaters shifts to the left.