If Babette's Bicycle shop can rebuild three bicycles for $200 and four bicycles for $240, then the average variable cost of four bicycles
a. equals $40
b. cannot be determined without more information
c. equals $60
d. equals $240
e. equals $10
B
You might also like to view...
In the above table, for Mary the opportunity cost of producing a dress is ________, and the opportunity cost for Mark of producing a dress is ________
A) 1 1/2 jackets; 2/3 of a jacket B) 1 1/2 jackets; 2 1/2 jackets C) 1 1/4 jackets; 1/2 of a jacket D) 1 jacket; 1 jacket E) 1 dress; 1 dress
Porter's five forces model is trying to identify things that leads to a company's success
Indicate whether the statement is true or false
Suppose a monopolist chooses to advertise its good and its own demand curve shifts to the right, then we know that
a. the industry's demand curve shifts in precisely the same way b. its competitors share some of the benefits of the advertising c. the monopolist's cost curves will shift to accommodate the shift in demand d. the price of substitute goods will fall e. consumers are turned off by the advertising and buy less at every price
Suppose a wallet firm has been dumping its wastes into the local river. The government finds out and insists that the firm pay for the cost of the river cleanup. As a result, we can expect:
A. more wallets to be produced at a lower price. B. more wallets to be produced at a higher price. C. fewer wallets to be produced at a lower price. D. fewer wallets to be produced at a higher price.