Suppose you operate a factory producing lawn mowers. Your current level of output is 500 lawn mowers per week. Your weekly variable cost is $40,000. If your total cost is $50,000 per week,
a. average cost of production is $80.
b. average cost of production is $100.
c. average variable cost of production is $100.
d. average fixed cost of production is $100.
b. average cost of production is $100.
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Joe likes to sleep late in the mornings and play tennis in the afternoons. The opportunity cost of Joe attending his morning class for one hour is
A) an hour of tennis given u
Suppose a consumer buys only food and clothing. If the quantity of food bought decreases while that of clothing remains the same, their marginal utility from food will: a. fall relative to the marginal utility of clothing
b. rise relative to the marginal utility of clothing. c. rise, but not as fast as their marginal utility of clothing rises. d. fall, but not as fast as their marginal utility of clothing falls.
Subprime mortgage
What will be an ideal response?
Refer to the information provided in Figure 7.8 below to answer the question(s) that follow. 
Figure 7.8Refer to Figure 7.8 The firm?s isocost line could shift from CE to CD if
A. the firm?s total expenditures decreased by 33% or the price of capital and labor each increased by 50%. B. the firm?s total expenditures decreased by 33%. C. the price of capital increased. D. the price of labor increased by 33%.