The price of admission to Walt Disney World
A) is the same for everyone.
B) is kept low to attract customers, but prices of food and souvenirs inside the park vary by your age, address and other factors.
C) can vary by your age and address.
D) is determined by the weather on the day of admission.
C
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Margo and Stephanie are starting separate T-shirt companies. Both will pay the same prices for shirts and stencils, but Margo chooses a more expensive silk screening machine that is capable of producing multiple shirts at once. Stephanie chooses an inexpensive machine that only makes one shirt at a time. Each machine can be operated by one person. What can we infer about their two operations? a
Customers will prefer Stephanie's shirts to Margo's. b. Stephanie's shirts will cost less than Margo's. c. If Margo and Stephanie each only make one shirt, Stephanie's ATC will be higher than Margo's ATC. d. The minimum of Stephanie's ATC will be lower than the minimum of Margo's ATC. e. At some level of output the average total cost for Margo will be lower than the average total cost for Stephanie.
Any activity that results in the conversion of resources into products that can be used in consumption is
A) planning. B) investment. C) production. D) discounting.
Bobbie is contemplating buying a lottery ticket for $1 that has a 1 percent chance of paying $100. What is Bobbie's average expected rate of return on this "investment?"
A. Practically zero percent. B. 1 percent. C. 50 percent. D. $1.
Which of the following about trade is true?
What will be an ideal response?