Anna owns a dog grooming salon in Brunswick, Georgia. The above table has Anna's total product schedule. Anna pays each worker $300 per week and she pays rent of $600 a week for her salon. These are her only costs
When Anna has a staff of 6 workers, her average fixed cost equals A) $600.
B) $2.50.
C) $7.50.
D) $10.00.
E) $6.00.
B
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The reserve requirement refers to: a. the fraction of deposits that banks are required by the Fed to hold as reserves
b. the amount of gold required to back up all Federal Reserve notes. c. the requirement that banks reserve part of their lending capacity for small businesses. d. the requirement that Reserve bank presidents be part of the FOMC. e. the Treasury deposits held by the Fed.
In the real world we don't observe countries completely specializing in the production of goods for which they have a comparative advantage. All of the following are reasons for this except
A) not all goods and services are traded internationally. B) some countries have more resources than other countries. C) tastes for many traded goods are different in many countries because of globalization. D) production of most goods involves increasing opportunity costs.