Total fixed cost divided by the level of output yields
a. average variable cost per unit
b. average fixed costs per unit
c. marginal cost per unit
d. average total cost per unit
e. marginal productivity per unit of fixed resource
B
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For the buyer of a call option, the downside risk
A) is unlimited, but upside potential is limited. B) is limited, but upside potential is unlimited. C) and upside potential are unlimited. D) and upside potential are limited.
A put option is said to be "in the money" if
A) it is written on a Treasury bill or other money-market asset. B) it has increased in price since it was first written. C) the price of the underlying asset is currently less than the strike price. D) the price of the underlying asset is currently less than the strike price plus the option premium.
Which economic concept is the closest to the saying "There's no free lunch"?
a. Specialization b. Unlimited wants c. Underutilization of resources d. Opportunity costs e. Overutilization of resources
The demand curve for a human resource will be more elastic when
a. there are more and better substitutes are available for it. b. it is more difficult to substitute other resources for it. c. the demand for the product the resource is used to produce becomes more inelastic. d. the time period under consideration is shorter.