Which of the following is not a main function of the entrepreneur?
A. To make routine pricing decisions.
B. To innovate.
C. To assume the risk of economic losses.
D. To make strategic business decisions.
Answer: A
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In the above figure, the total variable cost curve is curve
A) A. B) B. C) C. D) none of the curves in the figure.
In the United States from 1981 to 2013, deaths from ________ increased largely due to the effects of increasing obesity
A) cancer B) diabetes C) strokes D) heart attacks
In 2013, the U.S. federal government spent approximately ___________ trillion
A) $4.9 B) $7.3 C) $3.7 D) $2.1
Refer to Scenario 9.3 below to answer the question(s) that follow. SCENARIO 9.3: Investors put up $520,000 to construct a building and purchase all equipment for a new restaurant. The investors expect to earn a minimum return of 10 per cent on their investment. The restaurant is open 52 weeks per year and serves 900 meals per week. The fixed costs are spread over the 52 weeks (i.e. prorated weekly). Included in the fixed costs is the 10% return to the investors and $1,000 per week in other fixed costs. Variable costs include $1,000 in weekly wages and $600 per week for materials, electricity, etc. The restaurant charges $5 on average per meal. Refer to Scenario 9.3. Total cost per week is
A. $1,000. B. $1,600. C. $2,000. D. $3,600.