Using the data in the above table, the average fixed cost of producing 9 units per day is
A) $2.22.
B) $5.00.
C) $5.55.
D) $20.00.
A
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Margarine and butter can both be used as a spread on toast. This means that they are:
a. independent goods. b. complementary goods. c. substitute goods. d. Giffen goods. e. inferior goods.
Suppose a government that taxed all interest income changed its tax law so that the first $5,000 of a taxpayer's interest income was tax free. This would shift the
a. supply of loanable funds to the right, causing interest rates to fall. b. supply of loanable funds to the left, causing interest rates to rise. c. demand for loanable funds to the right, causing interest rates to rise. d. demand for loanable funds to the left, causing interest rates to fall.
Ceteris paribus, all of the following result when the minimum wage is raised and is above the equilibrium in a competitive market, except
A. Some workers lose their jobs. B. Workers with a marginal revenue product below the minimum wage are worse off. C. There are fewer workers available to work. D. There are fewer jobs available.
Kara earns $1,500 a month and from that pays an overall tax rate of 15 percent. On average she saves $255 per month. What is her marginal propensity to consume and her marginal propensity to save?
What will be an ideal response?