In the above table, what is the maximum price that consumers are willing to pay for the 200th brownie?
A) 0
B) 20¢
C) 60¢
D) 80¢
D
Economics
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If the price of its product just equals the average variable cost of production for a competitive firm,
A) total revenue equals total fixed cost and the firm's loss equals total variable cost. B) total revenue equals total variable cost and the firm's loss equals total fixed cost. C) total fixed cost is zero. D) total variable cost equals total fixed cost.
Economics
Which of the following is not an example of a resource?
a. an office building b. a product's price c. the land plowed by a farmer in order to grow corn d. the chief executive officer of a large corporation
Economics