What is the firm's average variable cost at an output of 5 units?
The following cost data are for a firm in the short run:
A. $30
B. $60
C. $120
D. $140
B. $60
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In the case study discussed in the chapter, the electronics firm was actually enhancing its profits by selling calculators at a price that was below average cost
a. True b. False Indicate whether the statement is true or false
Aggregate output will increase if there is a(n)
A. unplanned fall in inventories. B. decrease in consumption. C. unplanned rise in inventories. D. increase in saving.
Which nation had the largest share of world exports in 2011?
A. Japan B. Germany C. China D. United States
Which of the following is NOT directly included in U.S. GDP?
A) sales to tourists of beach umbrellas in Hilton Head, South Carolina B) ticket sales to Ripley's Aquarium in Gatlinburg, Tennessee C) sales of sandwiches at a Subway store in Bangor, Maine D) popcorn purchased by a movie theater chain in Georgia E) movie tickets purchased by consumers in Georgia