Suppose that for a given good demand increases and supply decreases at the same time. If demand increases by a lesser amount than supply decreases, then equilibrium price __________ and equilibrium quantity __________ for that good

Using the data in the above table, the average fixed cost of producing 9 units per day is

A) $2.22. B) $5.00. C) $5.55. D) $20.00.

Which of the following is an example of outsourcing?

A) A U.S. firm moves a manufacturing plant from the U.S. to Thailand where the firm can hire cheaper labor. B) A German firm hires an accountant in the U.S. to manage its payrolls. C) All the above are examples of outsourcing. D) None of the above is an example of outsourcing.