If a firm decides to produce no output in the short run, its costs will be:
A. its marginal costs.
B. its variable costs.
C. its fixed costs.
D. zero.
Answer: C
Economics
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If the government were to regulate the way AT&T presents its phone plans, such a policy would be a:
A. tariff. B. nudge. C. tax. D. push.
Economics
Assume the Cookie Monster, who eats only cookies, has an income of $200 a week and that the price of a cookie is $2. If the price doubles, he cuts his consumption in half. How much is his elasticity of demand for cookies?
What will be an ideal response?
Economics