If the economy were producing at 12 units of outboard motors and 8 units of robots
A. the economy would be at a point inside its production possibilities curve.
B. the economy would be at a point outside its production possibilities curve.
C. the economy would have unemployed resources.
D. the economy would be at a point inside its production possibilities curve AND would have unemployed resources.
D. the economy would be at a point inside its production possibilities curve AND would have unemployed resources.
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A fishing boat owner brings 50,000 fish to market and the market price is $4 per fish. Her average variable cost of 50,000 fish is $1 and the fixed cost of the boat is $100,000 . What is her profit per fish?
a. $1. b. $500. c. $5,000. d. $25,000. e. $500,000.
The expected effect of the Bush tax cuts would be a(n)
A. lower real interest rate. B. exchange rate depreciation. C. increased current account deficit. D. All of these responses are correct.
Most cartels cease to be effective because:
A. of the incentive to cheat on the cartel agreement. B. the dominant firm buys out the other firms. C. of strict enforcement of antitrust legislation. D. consumers discover the cartel and buy from other firms instead.
When output is 100 units, the firm's total fixed cost is $100. What will this firm's total fixed cost be if output doubles to 200 units?
A. $200 B. $1,000 C. $100 D. Can't tell from the information provided.