The formula for total fixed cost is

Suppose that a price index in Paraguay was 131 in 2015 and 152 in 2016. The inflation rate between those two years was approximately

A) 10.5 percent. B) 11.6 percent. C) 16 percent. D) 21 percent.

Suppose the government imposes a price support that is above the equilibrium price. As a result,

A) total revenue increases. B) consumer surplus increases. C) the marginal cost of the last unit produced decreases. D) the government has effectively imposed a price ceiling. E) the subsidy the government pays decreases.