It costs a furniture company $8,750 to produce 25 tables. The company's total cost will be $9,125 if it produces a 26th table. If the company produces 26 tables, then
a. its average cost is greater than its marginal cost.
b. its average cost and its marginal cost are equal.
c. its average cost is less than its marginal cost.
d. This cannot be determined from the information given.
c
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Because Texas is a part of the United States, it also implements a political system, which defines that
a. Have the fundamental rights to govern these territories. b. President of the United States c. Governor of the State of Texas Congress d. The People e. Supreme Court judges
The greatest number of people who live on $1.90 a day live in:
A. China. B. sub-Saharan Africa. C. South Asia. D. None of these is true.
Which of the following examples shows a perfectly elastic demand?
a. Red Barn Farms must reduce its price below the market price to get more buyers. b. Peak Farms can sell as much as it wants at the market price. c. Smyth Agriculture goes out of business because it couldn’t get enough buyers at the market price. d. Moto Agriculture makes a huge profit because it increases its price above the market price.
Near-monies:
A. include all financial and real assets that can be easily converted into currency. B. are certain highly liquid financial assets that do not function directly as a medium of exchange but can be readily converted into M1. C. are excluded from M2 because they are highly liquid. D. are defined as monetary balances that are immediately available, at zero cost, for household and business transactions.