Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If six microwave ovens are produced, Micro Oven's total fixed costs are
A. $50.
B. $100.
C. $300.
D. indeterminate from this information.
Answer: C
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Which of the following models explains why high unemployment has persisted in some European countries for such long periods—periods too long to be the result of fixed money-wage contracts or backward-looking price expectations?
a. Insider outsider models b. Efficiency wage models c. Sticky price models d. IS-LM models
Which of the following is true about income inequality?
A. Inequality tends to be greatest in the poorest countries. B. Inequality tends to diminish as the population increases. C. Inequality is not an issue for developed countries. D. Inequality tends to get worse as a country develops.
The largest single source of revenue for the federal government is
A. Personal income taxes. B. Excise taxes. C. Social Security payroll taxes. D. Corporate income taxes.
Market failure occurs when not every consumer who wants a good can obtain it.
Answer the following statement true (T) or false (F)