Which of the following is an example of a fixed cost for a fishing company?
a. the cost of hiring a fishing crew
b. the fuel costs of running the boat
c. the monthly loan payment on the boat
d. the supply of nets, hooks, and fishing lines
e. the bait
C
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Activities that firms, universities, and governments undertake to increase their knowledge base are referred to as:
A) primary activities. B) research and development (R&D) activities. C) secondary activities. D) tertiary activities.
Certain goods are related such that an increase in the price of one good decreases the quantity demanded of the other. These goods are
A. complements. B. substitutes. C. luxury goods. D. competing goods.
An increase in investment spending caused by higher expected rates of return will:
A. shift the aggregate supply curve to the left. B. move the economy up along an existing aggregate demand curve. C. shift the aggregate expenditures curve downward and the aggregate demand curve to the left. D. shift the aggregate expenditures curve upward and the aggregate demand curve to the right.
Use the following table for a certain product's market in Marketopia to answer the next question.Quantity Demanded DomesticallyPriceQuantity Supplied Domestically1,400$102,2001,60092,0001,80081,8002,00071,6002,20061,4002,40051,200If Marketopia is entirely closed to international trade, the equilibrium price and quantity would be
A. $6 and 1,400 units. B. $7 and 2,000 units. C. $9 and 2,000 units. D. $8 and 1,800 units.