When a factory is operating in the short run,
a. it cannot alter variable costs.
b. total cost and variable cost are usually the same.
c. average fixed cost rises as output increases.
d. it cannot adjust the quantity of fixed inputs.
d
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Explain why Argentina, one of the world's richest countries at the start of the twentieth century, has become progressively poorer relative to the industrial countries
[An alternative question: What explains Argentina's regress from riches to rags?]
A movie monopolist sells to students and adults. The demand function for students is QdS = 600 - 100P and the demand function for adults is QdA = 1,200 - 100P. The marginal cost is $2 per ticket. Suppose the movie theater can price discriminate. What is the monopolist's profit from adults?
A. $400 B. $2,400 C. $2,500 D. $0
The interest rate is determined purely by market forces, and not by government involvement
a. True b. False Indicate whether the statement is true or false
According to the Pew Charitable Trust methodology for identifying the middle class, in 2014, the bottom end of the middle class is ________, and the top end is ________.
A. $42,000; $126,000 B. $75,000; $300,000 C. $50,000; $75,000 D. $30,000; $250,000