If the price were $15, how much would the firm's output be in the short run?
about 215
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The table above gives costs at Jan's Bike Shop. Unfortunately, Jan's record keeping has been spotty. Each worker is paid $100 a day. Labor costs are the only variable costs of production. What is the total fixed cost of producing 64 bikes?
A) $200 B) $300 C) $400 D) $500
The short-run supply curve for a firm in a perfectly competitive market is
a. horizontal. b. likely to slope downward. c. determined by forces external to the firm. d. the portion of its marginal cost curve that lies above its average variable cost.
Chara pays Jim $2 and receives a cup of coffee in return. This demonstrates money’s function as a ______.
a. unit of account b. medium of exchange c. means of deferred payment d. store of value
________: when aggregate demand for goods and services is rising and the economy is approach full employment output
Fill in the blank(s) with correct word