If a firm has a total cost of $150 and a variable cost of $100 for producing 5 units of output, then the fixed cost is:

If the current exchange rate is 0.65 British pounds per dollar, what is the dollar price of one British pound? If the exchange rate changes to 0.70 British pounds per dollar, what is the new dollar value of one British pound?

What will be an ideal response?

Refer to Figure 3-4. At a price of $25, how many units will be sold?

A) 400 B) 500 C) 600 D) 800