Average fixed cost for an information product would
A. remain constant as quantity increases.
B. decrease constantly as quantity increases.
C. increase constantly as quantity increases.
D. first decrease and then increase as quantity increases.
Answer: B
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What are the consequences of price discrimination for the producer, the consumer, and for society?
What will be an ideal response?
As the percentage of the labor force belonging to a union fell in the United States during the 1955 through early 2000 period, the share of national income going to labor
a. increased 10 percent. b. remained approximately the same. c. decreased 10 percent. d. decreased 20 percent.
If a nation repaid its debts by raising taxes, the main effect would be to:
a. Create a wildly inflationary environment. b. Contract the economy due to the decrease in the monetary base. c. Expand the economy due to the increase in the monetary base. d. Redistribute income if the debt was internally held and transfer spending abroad if it was externally held.
Collective bargaining
A. deals only with issues relating to wages. B. substitutes one labor negotiator for many independent workers. C. is NOT a function of labor unions. D. is illegal in the United States.