Kim runs a sandwich joint that has a fixed cost of $1,000 . She has employed 3 workers and pays $100 per day to each worker. She sells 420 sandwiches per day at a price of $3.40 per sandwich. The average fixed cost incurred in the production of sandwiches is equal to:
a. $2.38.
b. $3.09.
c. $1.48.
d. $0.88.
a
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In foreign exchange markets, who demands dollars and who supplies dollars?
What will be an ideal response?
Which is NOT an example of moral hazard
a. people eat more at all-you-can-eat buffets b. loggers select the most profitable trees to harvest even when they are not paying per tree felled c. Drivers of heavier, safer cares are more likely to run stop signs d. workers on commission work harder than those paid an hourly wage
Some people who believe monetary policymakers should not address equity and property price bubbles argue their position based on:
A. price bubbles are virtually impossible to identify when they are developing. B. their belief that government should stay out of private matters. C. the policymakers lack experience with financial markets. D. all of the answers given are correct.
Suppose the demand and supply curves for good X are both linear. The demand price for the first unit of X is $28, and the supply price for the first unit of X is $6. If the equilibrium price for good X is $16 and the equilibrium quantity of X is 24,000 units, then total consumer surplus is ________, total producer surplus is ________, and total social surplus is ________.
A. $144,000; $672,000; $384,000 B. $144,000; $120,000; $264,000 C. $672,000; $144,000; $384,000 D. $28; $6; $16 E. $120,000; $144,000; $264,000