The firm described in Table 8-1 has a fixed cost of ____ at its optimal level of output.
A. 2
B. 6
C. 10
D. 26
Answer: C
You might also like to view...
Blueland is a small island country which specializes in the production of yachts. It has a Cobb-Douglas aggregate production function
i) How will the production of yachts get affected if the technology used for production in Blueland improves? ii) How will Blueland's output get affected if both efficiency units of labor and capital stock increase by 12.5% but the level of technology remains unchanged?
The decision that households make to save is independent of the decisions businesses make to invest
Indicate whether the statement is true or false
A tax imposed on the sellers of a good
a. raises both the price buyers pay and the net price received by sellers. b. raises the price buyers pay and lowers the net price received by sellers. c. lowers the price buyers pay and raises the net price received by sellers. d. lowers both the price buyers pay and the price received by sellers.
To address the problems created by negative externalities, economists prefer programs that:
A. require government to conserve, using general tax revenues to pay for the program. B. make people who have the lowest cost of reducing consumption choose to undertake the most reduction. C. require all people to reduce consumption equally. D. make people who have the lowest benefit of reducing consumption choose to undertake the most reduction.