If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25, what is its total cost?
a. $200
b. $1,000
c. $520
d. $320
c
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The fundamental objective of monetary policy is to assist the economy in achieving a ________.
A. balanced budget consistent with full-employment B. money supply, which is based on the gold standard C. rapid pace of economic growth D. full-employment, noninflationary level of total output
Used cars in Poorland sold for about 20% less than new cars of the same model manufactured in the same year. However, price differences were reduced when certified used-car dealers entered into the market for used cars in Poorland
What explains this phenomenon?
Refer to the scenario above. Which of the following is the optimum choice?
A) Apartment Very Close B) Apartment Close C) Apartment Far D) Apartment Very Far
A firm increased its production and sales because the firm's manager rearranged the layout of his factory floor. This is an example of
A) positive technological change. B) inspired management. C) investment in human capital. D) economies of scale.