Refer to the information provided in Table 8.2 below to answer the question(s) that follow.
Table 8.2 
Refer to Table 8.2. If Sherry produces three pairs of earrings, her total variable costs are
A. $26.67.
B. $140.
C. $175.
D. $225.
Answer: B
You might also like to view...
Unlike economic profit, economic rent:
A. only applies to land. B. may not be driven to zero by competition. C. doesn't involve opportunity costs. D. can be less than zero.
The quantity of employment is determined in the ________ market and that quantity, along with the ________, determines potential GDP
A) labor market; tax rate B) loanable funds; production function C) goods and services; labor market D) labor market; tax wedge E) labor market; production function
An increase in ________ reduces the money supply since it causes the ________ to fall
A) reserve requirements; monetary base B) reserve requirements; money multiplier C) margin requirements; monetary base D) margin requirements; money multiplier
Workers in country A receive an increase in wages of 10 percent at the same time the inflation rate in country A is 8 percent. Workers in country B receive an increase in wages of 3 percent and the inflation rate in country B is 1 percent. In which country are workers better off?
a. Country A because their real wages rise by 18 percent. b. Country A because their real wages rise by 10 percent. c. Country B because the inflation rate is lower. d. Neither country because the increase in real wages is the same.