If you know that when a firm produces 10 units of output, total costs are $1,030 and average fixed costs are $10, then total variable costs are:
A. $104
B. $930
C. $1,040
D. $1,130
B. $930
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Legislators who must stand for re-election every two years will tend to support
A) policies beneficial to all the people eligible to vote. B) policies beneficial to all the people now living. C) policies beneficial to all present voters and future generations of voters. D) policies promising early benefits and deferred costs. E) policies representing the public interest.
If the price of chocolate chip cookies falls, then
A) the supply curve of chocolate chip cookies shifts rightward. B) the supply curve of chocolate chip cookies shifts leftward. C) there is a movement downward along the supply curve of chocolate chip cookies. D) there is a movement upward along the supply curve of chocolate chip cookies.
Econometricians are economists who specialize in
a. descriptive or nontheoretical analysis b. economic behavioral characteristics of children's consumption c. the study of microeconomics d. the historical view of past economic problems e. quantitative economic research methods
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30