The Framing Gallery frames posters and has total fixed costs of $1,000. The Framing Gallery is currently framing ________ posters if its average variable cost is $20 and its average total cost is $30.
A. 25
B. 100
C. 5
D. an indeterminate number of
Answer: B
You might also like to view...
Which is the best summary of this graph?
a. An increase in demand eventually leads to higher equilibrium price and quantity.
b. An increase in demand leads to a shift in the supply curve.
c. A higher equilibrium price and quantity leads to an increase in the quantity supplied.
d. An increase in demand eventually leads to lower equilibrium price and quantity.
Exports
A. cause foreign exchange to leave the country, and thus they are registered as credit in the balance of payments. B. cause foreign exchange to leave the country, and thus they are registered as debit in the balance of payments. C. bring foreign exchange, and thus they are registered as debit in the balance of payments. D. bring foreign exchange, and thus they are registered as credit in the balance of payments.
Refer to the information provided in Figure 17.1 below to answer the question(s) that follow. 
Figure 17.1 Refer to Figure 17.1. Suppose John's utility from income is given in the figure. From this we would say that John is
A. risk-loving. B. risk-averse. C. a risk taker. D. risk-neutral.
Exclusive unionism has the economic effect of:
A. Strengthening the bargaining position of an industrial union B. Weakening the bargaining position of a craft union C. Decreasing the supply of labor D. Increasing the demand for labor