In the above table, the firm's total fixed cost of production is
A) $3.00.
B) $4.00.
C) $7.00.
D) $29.00.
B
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The CPI was 225 in 2008 and 232.2 in 2009. The nominal interest rate during this period was 1.4 percent. What was the real interest rate during this period?
A) 4.6 percent B) -1.8 percent C) -3.2 percent D) 3.2 percent E) 1.8 percent
In a typical college town, when students go home for the summer, the demand for many items such as pizza and textbooks
a. decreases, which is a shift to the left of the demand curves for these goods. b. decreases, which is a shift to the right of the demand curves for these goods. c. increases, which is a shift to the left of the demand curves for these goods. d. increases, which is a shift to the right of the demand curves for these goods.
If, at the current price, there is a surplus of a good, then
a. sellers are producing more than buyers wish to buy. b. the market must be in equilibrium. c. the price is below the equilibrium price. d. quantity demanded equals quantity supplied.
If the price of orange juice rises 10%, and as a result the quantity demanded falls by 8%, the price elasticity of demand for orange juice is
A) -1.25. B) elastic. C) Both A and B above. D) Neither A nor B above.