Assume that you have data on a firm's average fixed cost and average variable cost for various levels of output and you are asked to calculate the total variable cost and total cost of the firm
Would this be enough information to perform this calculation? Explain
This would be enough information. Total variable cost can be can be calculated by taking the average variable cost and multiplying times the output level. Total fixed costs can be derived by taking the average fixed costs and multiplying it times the level of output. The total cost of the firm is simply the sum of both of these figures.
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A(n) ________ in U.S. interest rates will cause an increase in the demand for U.S. dollars and a(n) ________ in the (per dollar) exchange rate
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
What is the relationship between net borrower, net lender, debtor nation, and creditor nation?
What will be an ideal response?
The vertical distance between a firm's average total cost curve, ATC, and its average variable cost curve, AVC
A) decreases as output increases. B) is equal to its marginal cost, MC. C) is equal to its total fixed cost, TFC. D) is equal to its average product.
What is a flexible exchange rate and how does it work?
What will be an ideal response?