The Lawn Ranger, a landscaping company, has total costs of $7,000 and total fixed costs of $5,000. The Lawn Ranger's total variable costs are
A. $2,000.
B. $3,000.
C. $5,000.
D. indeterminate because the firm's output level is unknown.
Answer: A
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What is the social interest? Distinguish it from self-interest. In your answer give an example of self-interest and an example of social interest
What will be an ideal response?
Studies show that the demand curve for peas has shifted. Which of the following explanations would you reject first?
a. The price of string beans has changed. b. The demand for corn has changed. c. The demand for string beans has changed. d. The income of consumers has changed. e. The price of peas has changed.
A monopolist who charges a different price for each unit of the commodity sold is called:
a. a perfectly competitive monopolist. b. a natural monopolist. c. a perfectly discriminating monopolist. d. an elastic monopolist.
Net exports is a negative number when:
A. a nation's exports of goods and services are greater than its imports. B. a nation's imports of goods and services are greater than its exports. C. a nation's imports of goods and services rise. D. a nation's imports of goods and services fall.