A firm is producing 2,500 units at its optimal output, with average variable cost per unit of $4 and average fixed cost per unit of $2.50. If sells its output at $8 per unit, total profit is

Use the above table. Assuming constant opportunity costs, the opportunity cost of producing a pound of beef in Argentina is

A) 2 gallons of wine. B) 3 gallons of wine. C) 0.5 gallons of wine. D) 0.33 gallons of wine.

The most appropriate type of labor market to analyze

a. is the world market b. is the national market c. is a regional market d. is a local market e. depends upon the purpose of the analysis