Ernie's Earmuffs produces 200 earmuffs per year at a total cost of $2,000 and $400 of this cost is fixed. What is Ernie's total variable cost?
A) $2,400
B) $2,000
C) $1,600
D) $800
C
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If the interest rate is 8 percent, the present value of $750 to be received two years from now is
a. $750. b. $886.10. c. $643. d. $738.14.
Which of the following moves the wage above its equilibrium value?
a. both compensating differentials and efficiency wages b. compensating differentials but not efficiency wages c. efficiency wages but not compensating differentials d. neither compensating differentials nor efficiency wages
The CPI was 172 in 2007, and the CPI was 46.5 in 1982 . If your parents put aside $1,000 for you in 1982, then how much would you have needed in 2007 in order to buy what you could have bought with the $1,000 in 1982?
a. $270.35 b. $1,255.00 c. $2,698.92 d. $3,698.92
Which of these social sciences deals most with models of behavior rather than with thought processes?
A) psychology B) sociology C) political science D) economics