The above figure shows the costs at Barney's Bagel Bakery. At which of the following amounts of output is the AFC be the lowest?
A) at 2000 bagels
B) at 3000 bagels
C) at 3500 bagels
D) None of the above because the AFC is constant regardless of how many bagels are produced each day.
C
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One person's utility cannot be compared to another person's utility.
Answer the following statement(s) true (T) or false (F)
The present value of a dollar received one year from now, given a current interest rate of 10%, is about
A. $.90. B. $.91. C. $1.00. D. $1.09.
A decrease in supply means:
A) a shift to the left of the entire supply curve. B) moving downward (to the left) along the supply curve with lower prices. C) less will be demanded at every price. D) more will be supplied at every price.
The person least likely to receive a payment from a corporation in a year of losses is the
A) bank that loaned money to the corporation. B) bondholder. C) preferred stockholder. D) common stockholder.