Suppose a publisher faces the following costs of producing 10,000 newspapers each month: $5,500 cost of labor; $2,200 monthly mortgage payment; $250 cost of electricity to run the printing presses; $800 for ink and paper; and $200 in city property taxes (based on the value of the building and land). Its total variable costs are:
a. $8,950.
b. $8,750.
c. $6,550.
d. $6,300.
e. $5,500.
c
Economics
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A planned economy would require decisions on the basis of
a. input-output tables b. corporate profits c. cost-benefit analysis d. government decisions e. all of the above
Economics
The marginal expenditure of a monopsonist is $4. The wage it currently pays is $3. The labor supply curve has a constant elasticity. What is the elasticity of the labor supply?
A) 0.33 B) 0.66 C) 1 D) 3
Economics