In the above table, the average fixed cost at 4 units of output is
A) $1.00.
B) $4.50.
C) $4.70.
D) $4.80.
A
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In the expression for present value of benefits (PVB), ?(bt/[1+rs]t), with bt= Bt/(1 + p)t,
a. bt represents incremental nominal benefits b. Bt represents incremental real benefits c. bt represents incremental real benefits d. p stands for the opportunity cost of money
Compared to IACs, LDCs are often characterized by:
a. lower adult literacy. b. lower per capita energy consumption. c. lower life expectancy. d. All of the answers are correct.
The free-rider problem arises because:
A. once provided, a public good is available to all regardless of whether they paid for it. B. poor people cannot afford to contribute to public goods. C. enforcement of tax laws is inadequate. D. people disagree with how the government spends its money.
Which conditions must hold if a firm is to successfully engage in price discrimination?
A. It must be extremely difficult, if not impossible, for one consumer to resell a product to another. B. Firms must have a sufficiently low amount of market power. C. Consumers must have very similar preferences for the product. D. All of these are correct