If the total cost of producing 20 units of output is $1,000 and the average variable cost is $35, what is the firm's average fixed cost at that level of output?

Why is a college graduate more likely to get a job in management than is someone with only a high school diploma, even when the job has nothing to do with a specific type of education?

Which of the following statements is correct?

a. As a group, economists see no purpose in distinguishing between the nominal interest rate and the real interest rate. b. The interest rate that is usually reported is the nominal interest rate. c. If the nominal interest rate increases and the inflation rate remains unchanged, then the real interest rate decreases. d. All of the above are correct.