The evolution of the payments system from barter to precious metals, then to fiat money, then to checks can best be understood as a consequence of the fact that
A) paper is more costly to produce than precious metals.
B) precious metals were not generally acceptable.
C) precious metals were difficult to carry and transport.
D) paper money is less accepted than checks.
C
Economics
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If Jason's fixed cost totals $800 with variable cost per unit of $10 at a quantity of 80 units, what would his average total cost at 80 units of output equal?
a. $10 b. $18 c. $20 d. $810
Economics
The vertical distance between the horizontal axis and any point on a perfect competitor's demand curve measures
A) total cost. B) total revenues. C) product price, marginal revenue, and average revenue. D) supply curve for the product.
Economics