Refer to Scenario 2. The average fixed cost of 2 units of output is:
A) $8.00.
B) $8.50.
C) $12.00.
D) $20.50.
C
You might also like to view...
Externalities that occur in market transactions and affect parties beyond those involved in such transactions are known as _____
a. spillovers b. negative externalities c. deadweight losses d. shortages
In 2010, high-income families (the top 20 percent) in the United States earned approximately ____ percent of the total before-tax income
a. 34 b. 48 c. 62 d. 79
If the Fed wishes to slow economic activity, it might actively pursue:
A. contractionary fiscal policy. B. expansionary monetary policy. C. expansionary fiscal policy. D. contractionary monetary policy.
Which of the following statements is NOT an assumption underlying the production possibilities curve?
A) Resources are fully and efficiently employed. B) Technology is fixed. C) Production occurs over some specified time period. D) The amount of resources available for production can be changed quickly.