Exhibit 7-9 Cost schedule for firm X
OutputQuantity
Total FixedCost
Total VariableCost
0
$100
$    0
1
  100
    50
2
  100
    84
3
  100
  108
4
  100
  127
5
  100
  150
As shown in Exhibit 7-9, the total cost of producing 4 units is:

Suppose a student is attending your college on an athletic scholarship, and doesn't pay a penny for tuition. According to the economic way of thinking, the student's cost of attending college is

A) zero. B) bore completely by the college's athletic fund. C) positive, because the student sacrificed some other opportunity to attend your college. D) positive, because the student still needs food and housing. E) negative, because nobody really gains by trying to combine athletics with higher education.

Disinflation would eventually cause

a. the short-run and the long run Phillips curve to shift right. b. the short-run and the long run Phillips curve to shift left. c. the short-run Phillips curve but not the long run Phillips curve to shift right. d. the short-run Phillips curve but not the long run Phillips curve to shift left.