If you know that when a firm produces 8 units of output, average fixed cost is $12.50 and average variable cost is $81.25, then the average total cost associated with this output level is

The purchasing power parity (PPP) theory suggests the prices of identical items will equalize internationally. An illustration that supports this theory is the fact that the price of a McDonald's "Big Mac" is the same around the world

a. True b. False

Antitrust regulators allow mergers if the firms agree to sell off certain parts

a. True b. False Indicate whether the statement is true or false