A firm's average total cost is $60, its average variable cost is $30, and its total fixed cost is $600. Its output is
A) 20 units.
B) 30 units.
C) 40 units.
D) 50 units.
A
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The elimination of unexploited profit opportunities requires that ________ market participants be well informed
A) all B) a few C) zero D) many
The virtual currency battle between Facebook and Zynga reminds us that:
a. Once a company starts a virtual currency, it is difficult and costly to abolish the currency. For nations, the same is true. Countries, like Greece, that entered the European Monetary Union now find it very difficult and costly to abandon the euro. b. Companies that start virtual currencies can abolish them rather quickly, which stands in stark contrast to countries, like Greece, that entered the European Monetary Union but now find it difficult and costly to abandon the euro. c. Companies that start virtual currencies are like countries, such as Greece, that entered the European Monetary Union. In both cases, it appears relatively easy to abandon the virtual currency and currency area. d. Countries, like Greece, that entered the European Monetary Union now find it relatively easy and inexpensive to abandon the euro. This stands in stark contrast to companies that start virtual currencies and wish to abolish them.
If a bank had $250 million in demand deposits and faced a 20 percent reserve requirement, it would be required to hold ____ as reserves and could have a total amount of loans issued up to ____.
a. ?$50 million; $200 million b. ?$50 million; $250 million c. ?$200 million; $250 million d. ?$200 million; $200 million
A production possibilities curve indicates the
A. Maximum combinations of goods and services an economy can produce given its available resources and technology. B. Average combinations of goods and services an economy can produce given its available resources and technology. C. Maximum combinations of goods and services an economy can produce given unlimited resources. D. Combinations of goods and services an economy is actually producing.