If at optimum output of 1,000 units, the firm is incurring average variable cost per unit of $3, average fixed cost per unit of $1.50, and selling its output at $7 per unit, total profit is
a. $7,000.
b. $2,500.
c. $1,500.
d. $250.
b
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nlike the European Union competition laws, Chinese Anti-monopoly Law considers which of the following?
A) charging unfairly high prices B) exclusive deals C) furthering the social interest D) tying contracts
A lower discount rate discourages banks from borrowing reserves and making loans. Therefore, if the Fed wants to expand the money supply, it raises the discount rate
a. True b. False Indicate whether the statement is true or false
The institution charged with creating and regulating the U.S. money supply is the
a. U.S. Treasury b. Federal Reserve System c. Department of Commerce d. Department of Weights and Measures e. U.S. Mint
Leisure-Consumption indifference curves
a. slope upward and are concave. b. slope upward and are convex. c. slope downward and are concave. d. slope downward and are convex.