A firm's total fixed cost equals $2,500 . The firm's average fixed cost at 1, 5, and 10 units of output, respectively, will be:
a. $2,500, $2,500, and $2,500
b. $2,500, $500, and $250.
c. $2,500, $12,500, and $25,000.
d. $2,500, $1,250, and $250.
b
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Refer to the Article Summary. By marketing to pet owners, hotel companies like Klimpton, Choice, and W are trying to set themselves apart from competing hotel companies. This is an example of
A) product differentiation. B) defending a brand name. C) legally enforcing a trademark. D) blocking entry into the market.
Suppose the U.S. dollar gains strength against the euro (and against other major currencies). This strengthening of the dollar will cause which of the following to occur?
A) The aggregate demand curve will shift to the right and the short-run aggregate supply will shift to the right. B) The aggregate demand curve will shift to the left and the short-run aggregate supply will shift to the right. C) The aggregate demand curve will shift to the right and the short-run aggregate supply will shift to the left. D) the aggregate demand curve will shift to the left and the short-run aggregate supply will shift to the left.