Refer to Table 8.2. If Sherry produces four pairs of earrings, her average fixed costs are
A) $4.
B) $20.
C) $25.
D) $100.
C) $25.
You might also like to view...
If shoes rise in price, the demand curve for shoes ________ and the quantity of shoes demanded ________
A) shifts leftward; decreases B) shifts leftward; does not change C) does not shift; decreases D) does not shift; does not change
The Public Service Company of Colorado is a natural monopoly in the transmission and distribution of electric power. As such, it will incur an economic loss if it
A) goes out of business. B) prices its services at average total cost. C) prices its services at marginal cost. D) all of the above
A consumer's utility-maximizing combination of goods is given by the bundle that corresponds to the point on
A) an indifference curve that is tangent to the budget constraint. B) the budget constraint where it intersects one of the axes. C) the indifference curve that intersects the horizontal axis. D) the indifference curve that intersects the vertical axis.
The aggregate demand curve will shift to the left ________ the initial decrease in government purchases
A) by less than B) by more than C) by the same amount as D) sometimes by more than and other times by less than