The above table gives some production and cost information for Flaming Fernando's, a restaurant that sells Fiery Frijoles. What is the average variable cost of producing 1,000 frijoles?
A) $1
B) $2
C) $3
D) More information is needed to determine the answer.
B
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An industry in which its firms' cost structures do not vary with changes in production is referred to as a
A. price-taking industry. B. constant-cost industry. C. price-controlled industry. D. fixed-price industry.
In the late 1980s the U.S. government ran a succession of large budget ________ which resulted mainly in ________ crowding-out
A) deficits, domestic B) deficits, international C) surpluses, domestic D) surpluses, international
If you deposit $100 of currency into a demand deposit at a bank, this action by itself
a. does not change the money supply. b. increases the money supply. c. decreases the money supply. d. has an indeterminate effect on the money supply.
Which of the following is not an example of a natural resource?
A. Piece of machinery B. Forest C. Coal deposit D. River