A firm's fixed but avoidable costs are $100,000 and its variable costs are $250 per unit. It produces 50,000 units and prices it at $400 per unit. In the long-run, how low can price go before the firm decides to shut down?
a. $150
b. $252
c. $250.20
d. $400
b
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Which of the following is true of the crises witnessed by the southeast Asian countries in the 1990s?
a. The crises were sparked by the conversion from a fixed exchange rate regime to a flexible exchange rate regime. b. The crises occurred because among all countries, Malaysia owed the maximum short-term debt to foreigners. c. The consumption of petroleum products grew at an uncontrolled rate in Indonesia. d. Indonesia was the only country that owed a substantial long-term debt to the US. e. The stock prices dropped by 26 percent in Korea and by 57 percent in Malaysia.
In which of the following markets are strategic interactions among firms most likely to occur?
a. markets to which patent and copyright laws apply b. the market for piano lessons c. the market for tennis balls d. the market for corn
Holding other factors constant, if computers allow factory workers to manufacture more products per hour, then the real wages of factory workers will ________ and employment of factory workers will ________.
A. decrease; not change B. increase; increase C. decrease; increase D. increase; decrease
Cost benefit considerations would be most typical of which type of ethics?
a. consequentialism b. egoism c. kantian d. utilitarianism