A fixed cost is one that
a. increases only when output increases
b. has already been paid
c. does not vary with output
d. diminishes over time
e. cannot be recovered with profit
C
Economics
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Suppose that the production function for the economy is Y = AK0.5L0.5. If the capital stock = 40,000, the quantity of labor = 10,000, and the efficiency index = 3, the equilibrium real wage is
A) $3. B) $4.50. C) $9. D) $16.67.
Economics
A country has $3 billion of domestic investment and net exports of -$2 billion. What is its saving?
a. -$1 billion b. -$2 billion c. $1 billion d. $2 billion
Economics