If Melissa owns a software company that incurs no fixed costs, then
A) her total cost equals her total variable cost.
B) she will earn an economic profit.
C) her total variable cost is less than her total cost.
D) her total cost equals zero.
E) her marginal cost must equal zero.
A
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For each of the following values of nominal GDP and real GDP, calculate the GDP price index
a. Nominal GDP = $600; real GDP = $800. b. Nominal GDP = $900; real GDP = $900. c. Nominal GDP = $1,200; real GDP = $1,000.
Which of the following is NOT a factor with job satisfaction?
a. hours b. pay c. benefits d. vacation location
Which of the following statements is true?
A) If the opportunity costs differ between two countries, there is no opportunity for mutually advantageous trade. B) International trade leads countries to specialize in the production of those goods for which they have an absolute, rather than a comparative, advantage. C) Free international trade can increase the availability of all goods and services in the countries that participate in trade. D) The potential costs of free trade generally outweigh the benefits.
Assuming price elasticity of demand is reported as an absolute value, a price elasticity of demand greater than one indicates demand:
A. for the good is inelastic. B. for the good is elastic. C. for the good is unitary elastic. D. can not be determined without more information.