The following graph shows average fixed costs, average variable costs, average total costs, and marginal costs of production.Average variable cost is minimized when output equals:

Refer to Table 9-3. If the required reserve ratio is 10%, what is the amount of excess reserves held by Alpha-Beta Bank?

A) $25 million B) $40 million C) $60 million D) $75 million

Refer to Scenario 7.3. Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much labor will be hired to minimize the costs of producing 200 units of output?

A) 25 B) 50 C) 100 D) 200 E) none of the above