Jackson's Auto Body calculates that its total fixed costs are $3,000 per month. In a month in which the company repairs 20 cars, it finds that its total costs are $12,000 . From this, we can conclude
a. total monthly cost is $15,000
b. marginal cost is $600
c. average fixed cost is $60
d. average variable cost is $450
e. the costs are too high so the company should shut down
D
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Use the following table with data for a private open economy (no government) to answer the next question.All figures are in billions of dollars. Real GDPC + INet Exports$400$420$20450460205005002055054020600580206506202070066020If net exports increased by $10 billion at each level of GDP, the equilibrium real GDP would be
A. not determinable using this table. B. $610. C. $700. D. $650.
The deposit-creation process can continue as long as
a. banks have required reserves b. banks have excess reserves c. the Fed sells bonds d. banks sell bonds to the public e. the required reserve ratio does not change
The Law of Variable Proportions deals with the___________________between the input of productive resources and and the output of final products.
Fill in the blank(s) with the appropriate word(s).
What economic impact would the closing of a nearby military base have on a town? Would people and businesses that did not directly deal with the military personnel be affected?
What will be an ideal response?