What is the average cost per unit if the firm produces 5 units?
a. $196
b. $980
c. $182
d. $910
a
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If you like Oreos more than Chips Ahoy but like Nutter Butters more than Oreos, by the property of transitivity you like
A. Oreos more than Nutter Butters. B. Nutter Butters more than Chips Ahoy. C. Chips Ahoy more than Nutter Butters. D. Nutter Butters more than Oreos.
Which one of the following twentieth-century nations eliminated the problem of scarcity?
A) Socialist Cuba B) Socialist China C) Fascist Italy D) The United States of America E) None of the above.
Suppose that the unemployment rate equals 4.5 percent and that the natural unemployment rate is 5.5 percent. We can conclude that
A) the output gap is negative. B) the output gap equals zero. C) the output gap is positive. D) we have mismeasured the natural unemployment rate.
In Pioneer Ville, the price elasticity of demand for bus rides is 0.5 . When the price of a bus ticket rises by 5 percent, _______
A. the demand for bus rides increases by 10 percent B. the quantity of bus rides demanded increases by 2.5 percent C. the demand for bus rides decreases by 2.5 percent D. the quantity of bus rides demanded decreases by 2.5 percent