Jack is selling his sweaters for the market price of $40. His average variable costs are $50. In this situation, Jack should do which of the following?
a. Shut down and only lose his fixed cost.
b. Shut down and lose his fixed and variable cost.
c. Shut down and only lose his variable cost.
d. Keep producing and lose some of his variable cost.
a. Shut down and only lose his fixed cost.
Economics
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Which of the following is correct?
a. Efficiency deals with the size of the economic pie, and equality deals with how fairly the pie is sliced. b. Equality can be judged on positive grounds whereas efficiency requires normative judgments. c. Efficiency is more difficult to evaluate than equality. d. Equality and efficiency are both maximized in a society when total surplus is maximized.
Economics
Refer to the above table. The current account balance is
A. $170. B. -$45. C. $140. D. $155.
Economics