Refer to Figure 7-5. The efficient price of medical services is
A) $40. B) $55. C) $65. D) > $65.
B
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In order to continue its operations, in the long-run a firm must
a. Charge a price that is equal to its AVC b. Charge a price that is equal to its AFC c. Charge a price that is equal to its AVC + AFC d. Need more information to determine the price
Which of the following coordinates and plans foreign aid programs and expenditures in the United Sates?
a. The Federal Reserve Board b. The Federal Open Market Committee c. The Agency for International Development d. The Bureau of Economic Analysis e. The U.S.Department of the Treasury
For a college student who wishes to calculate the true costs of going to college, the costs of room and board
a. should be counted in full, regardless of the costs of eating and sleeping elsewhere. b. should be counted only to the extent that they are more expensive at college than elsewhere. c. usually exceed the opportunity cost of going to college. d. plus the cost of tuition, equals the opportunity cost of going to college.
What happens during periods when the inflation rate fluctuates widely?
What will be an ideal response?