The table above shows a total product schedule. Suppose that labor costs $20 per worker and fixed costs are $60. The average variable cost of producing 80 units equals ________ per unit

Vineyards can grow either red wine grapes or white wine grapes on their land. Which of the following would cause the supply of red wine grapes to decrease?

A) an increase in the price of white wine grapes B) an increase in the demand for red wine grapes C) a decrease in the price of white wine grapes D) an increase in the price of red wine

Gross domestic product in the economy is measured by the

A) total number of services produced in the economy. B) dollar value of all final goods and services produced in the economy. C) total number of goods and services produced in the economy. D) total number of goods produced in the economy.