Which of the following is a final good or service?
A. Coffee grounds you use to make your coffee every morning
B. Coffee grounds used by a coffee shop to make your coffee every morning
C. Coffee grounds used by Edy's to make coffee ice cream
D. None of these is a final good or service.
A. Coffee grounds you use to make your coffee every morning
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When the nominal interest rate rises, the opportunity cost of holding money
A) rises and people hold more money. B) falls and people hold less money. C) falls and people hold more money. D) rises and people hold less money.
Which of the following is true about average fixed cost?
a. Average fixed cost has a U-shape, and marginal cost crosses average fixed cost at its minimum point. b. Average fixed cost does not vary as output increases. c. Average fixed cost is the difference between marginal cost and average total cost. d. Average fixed cost is total fixed cost divided by the quantity of output produced, and it declines steadily as output increases.
The accompanying table below shows how total donations, average donations, total labor costs and average labor costs vary depending on the number of employees State U hires for its fundraising activities.Number of EmployeesTotal DonationsAverage DonationsTotal Labor CostsAverage Labor Costs1$30,000 $8,0002$42,426 $17,000 3 $17,321$27,000 4$60,000 $9,5005 $13,416$50,000 The marginal benefit (in terms of extra donations) of the 2nd employee is:
A. $42,426. B. $12,426. C. $21,213. D. $11,337.
Calculate the Herfindahl-Hirschman Index in this industry
