If you know that total fixed cost is $200, total variable cost is $600, and total product is 4 units, then average total cost must be
A. $200.
B. $250.
C. $3,200.
D. $800.
Answer: A
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The statistic called Gross Output (GO) is bigger than GDP, because GO sums up the values in all stages of a productive economy, whereas GDP accounts only for the final stage.
Indicate whether the statement is true or false
Other things the same, as the price level falls, the real value of a dollar
a. rises, and interest rates rise. b. rises, and interest rates fall. c. falls, and interest rates rise. d. falls, and interest rates fall.
In the above figure, the intersection of curves A and C is the point at which
A) average total cost is minimized. B) average variable cost is minimized. C) average fixed cost is minimized. D) total product is maximized.
When financial intermediaries deleverage, firms cannot fund investment opportunities resulting in
A) a contraction of economic activity. B) an economic boom. C) an increased opportunity for growth. D) a call for government regulation.