If the annual return on a property is $30,000, and the interest rate is 20 percent, the present value is $6,000

Average cost for the firm in Table 8.1

A) cannot be determined from the information given. B) is upward-sloping for all output values shown. C) is constant for all output values shown. D) is downward-sloping for all output values shown. E) is U-shaped.

The price elasticity of demand for a commodity is determined primarily by the

a. size of the consumer surplus. b. availability of good substitutes for the good. c. incomes of consumers. d. availability of complementary goods.