If a firm's output equals 10, product price equals $5.00, TFC = $8.00, and TVC = $60.00, then AFC would equal

The Federal Reserve System was founded in:

a. 1913. b. 1929. c. 1933. d. 1935.

Which of the following best approximates a pure monopoly?

A. The Kansas City wheat market B. The only bank in a small town C. The soft drink market D. The foreign exchange market