TFC=Total Fixed CostQ=Quantity of OutputMC=Marginal CostP=Product PriceTVC=Total Variable Cost Refer to the above information. Average fixed cost is:
A. TVC - MC.
B. 
.
C. 
.
D. 
.
Answer: B
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The observation that the demand curve for grape jelly shifts rightward every time the price of peanut butter falls means that grape jelly and peanut butter are
A) complements. B) substitutes. C) inferior goods. D) normal goods.
How many units of labor will this firm hire in maximizing its profits?
What will be an ideal response?
During 1929-1933, monetary policy was
a. highly expansionary and this led to an increase in the general level of prices. b. characterized by steady monetary growth, which resulted in price stability. c. characterized by a sharp reduction in the supply of money, which led to downward pressure on prices and a decline in output. d. highly expansionary and this led to a reduction in the general level of prices.
If a Central Bank wants to increase the supply of money in the economy, it should:
(a) Lower the reserve requirement. (b) Lower the rate of discount. (c) Buy government bonds in the market. (d) Do any, or all of the above.