The minimum point of the _____ curve is called the shutdown price
a. average-fixed-cost
b. marginal cost
c. average -total-cost
d. total fixed cost
e. average-variable-cost
e
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Investment in a new facility is likely to increase the annual profit of a fertilizer producer by $85 . The producer will purchase the facility only if it requires an annual investment of $90
Indicate whether the statement is true or false
Refer to the diagram below. If box E represents government, box D the resource market, and box B the product market, then flows (5) and (7) represent:
A. Goods and services
B. Government expenditures
C. Resources
D. Net taxes
Before the policy was put into effect, estimated consumer surplus (in thousands of dollars) was valued at
A collaborative federal and state program has been proposed in response to acid rain damagein Newport Bay, Maryland. To estimate the incremental benefits of the program, you use thetravel cost methodbasedupon the following pre- and post-policy recreational demand functions: Pre-policy: P = 62 – 0.02V1 Post-policy: P = 80 – 0.02V2, where V is the number of visitors (in thousands) and P is the admission fee. Assume the admission fee is set at $20 per visitor. a. 2,100 b. 44,100 c. 90,000 d. 45,900
Which of the following is an advantage of starting a new business as a sole proprietorship?
A) The owner has limited personal liability. B) Business profits are not taxed. C) A sole proprietorship has few government rules and regulations to comply with. D) A sole proprietorship can easily attain additional funding.