If the quantity demanded increases by 20 percent in response to a 10 percent decrease in price, demand is classified as:

A cost-justified precaution is a safety measure whose

A) benefits outweigh its costs. B) costs outweigh its benefits. C) costs equal its benefits. D) costs are zero.

The table above gives production information for Bob's Baseball Cap Company. Bob's total cost when zero caps are produced is $200 and workers cost $10 per hour. The average fixed cost of producing 25 baseball hats per hour is

A) $1.60 B) $8.00. C) $9.60. D) More information is needed to answer the question.