Anna owns a dog grooming salon in Brunswick, Georgia. The above table has Anna's total product schedule. Anna pays each worker $300 per week and she pays rent of $600 a week for her salon. These are her only costs
When Anna has a staff of 6 workers, her average fixed cost equals A) $600.
B) $2.50.
C) $7.50.
D) $10.00.
E) $6.00.
B
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Which of the following variables do you need to know to calculate marginal cost?
i. change in total cost ii. marginal product of labor iii. change in quantity of labor used iv. change in output A) i and ii B) i and iv C) ii and iv D) i, iii, and iv E) Only ii
Speculators are primarily interested in
A) betting on anticipated changes in prices. B) reducing their exposure to the risk of price fluctuations. C) increasing market liquidity. D) reducing the spread between bid and ask prices on bonds.
Which of the following statements best describes the potential gains from trade?
a. The potential for gains from trade may be especially low among the smaller and lower income countries of the world. b. The potential for gains from trade may be especially high among the smaller and lower income countries of the world. c. The potential for gains from trade may be especially high among the medium and larger income countries of the world. d. The potential for gains from trade may be especially high among the smaller and medium income countries of the world.
Which of the following may reduce the MC of companies emitting SO2 pollution?
A. The government eliminated subsidies to companies for reducing pollution. B. A study came out suggesting that additional cancers are linked to exposure to SO2 pollution. C. The government is subsidizing scrubbers which are devices that can be used to remove some SO2 pollution. D. Consumers are worried about the pollution and stopped buying the products from companies with high pollution.