Suppose Sarah owns a small company that makes wedding cakes. The accompanying table shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number of Cakes Per DayTotal Cost Per Day0$1001$1802$2203$3004$4005$5206$660 Sarah's fixed cost is ________ per day.
A. $100
B. $10
C. $20
D. $200
Answer: A
You might also like to view...
Suppose we observe the price level increasing and real GDP decreasing. An explanation for this is that
A) the dollar weakened and the effect on aggregate supply was less than the effect on aggregate demand. B) the dollar weakened and the effect on aggregate supply was greater than the effect on aggregate demand. C) the dollar strengthened and the effect on aggregate supply was less than the effect on aggregate demand. D) the dollar strengthened and the effect on aggregate supply was greater than the effect on aggregate demand.
We might predict that Japan has a comparative advantage compared to Russia in the production of hi-tech electronics because Japan has:
A. more land available to build manufacturing plants on. B. more unskilled labor available for production. C. a climate is more suitable for electronics. D. more advanced electronics technology.
If $1 = 1.50 euros, then what is the equivalent euro price of a clock selling for $30 in the United States?
a. 20 euros b. 30 euros c. 45 euros d. 60 euros
Mel is thinking of going on a cruise. Mel values a cruise in nice weather at $2,000 and values a cruise in bad weather at $50. The probability of nice weather is 60 percent and the probability of bad weather is 40 percent. Trip insurance is sometimes available. If purchased, it allows travelers to delay the cruise until the weather is nice. If Mel is risk-neutral, then in the absence of trip insurance, the most she will be willing to pay for the cruise is:
A. $1,200. B. $1,000. C. $1,220. D. $1,250.