Refer to the table shown. The average variable cost of producing five bicycles per week is:Output(bicycles per week)Total cost (dollars)110022003310444055806730790081,200
A. $116.
B. less than or equal to $116.
C. greater than or equal to $140.
D. $140.
Answer: B
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An unexpected rise in Housing Starts should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
If the bidders at a first-price auction have true values of $78, $72, $66, and $65, the item will sell for
a. $78 b. just under $78 c. $72 d. just over $72
Which of the following is true?
a. Automated production processes are generally adopted regardless of whether they reduce costs. b. Automated production processes eliminate jobs and, thereby, endanger our future living standards. c. Cost-reducing automated production techniques will expand output directly and/or release scarce resources for the expansion of output in other areas. d. Use of the most advanced technology will always minimize the cost of a productive activity.
Suppose that buyers assume that there is a 30% chance of getting a plum, and 8 of 10 cars in the used car market are lemons. Is this an equilibrium?
What will be an ideal response?