Refer to the cost data given below. How much is the firm's total fixed costs?
A. $900
B. $500
C. $400
D. Cannot be determined from the given data
C. $400
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In recent years, bank regulatory authorities have
A) encouraged banks to enter the insurance field. B) discouraged banks from entering the insurance field. C) asked Congress to write new legislation that would make it illegal for banks to enter the insurance field. D) asked Congress to write new legislation that would make it legal for banks to enter the insurance field.
In a relationship among total, average and marginal products, where TP is maximized:
a. AP is maximized b. AP is equal to zero c. MP is maximized d. MP is equal to zero e. none of the above
Figure 2-10
Movement from point K on the production possibilities curve for food and clothing in , to point J inside the curve could be the result of
a.
an increase in opportunity costs
b.
supply and demand
c.
greater efficiency
d.
a decrease in the population
e.
an increase in unemployment
If the benefits of X = $50 and the price of X = $50, then
A. you will be indifferent between buying X and keeping your money. B. $0 is the reservation price. C. $100 is the reservation price. D. you should buy X.