Which of the following will cause an inward shift of the production possibilities curve of an economy?
A) A decrease in the demand for goods and services
B) Introduction of better technology
C) A decline in the size of the labor force
D) An increase in the opportunity cost of the goods being produced
C
Economics
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In which of the following ways do advertising and other selling costs affect a firm's cost curves?
i. Advertising expenditures increase total fixed costs. ii. Selling costs increase total fixed costs. iii. Advertising and other selling costs per unit of output decrease as output increases. A) i only B) i and ii C) iii only D) i and iii E) i, ii, and iii
Economics
In the figure above, the total revenue from pizza per day is
A) $60,000. B) $100,000. C) $40,000. D) $80,000. E) $50,000.
Economics