If the quantity demanded changes by an infinitely large amount for a given change in price, then demand is
A) perfectly inelastic.
B) perfectly elastic.
C) elastic.
D) inelastic.
B
Economics
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Average fixed cost can be calculated using any of the formulas below except
A) TFC/Q. B) (TC - VC)/Q. C) ?(TC - VC)/?Q. D) (TC/Q) - AVC.
Economics
A brew pub is opening in a former warehouse. Its fixed costs include ______, and variable costs include ______.
a. its liquor license fee; payments for hops and yeast b. wages and tips paid to staff; hiring a marketing service c. utility payments; health inspection charges d. brewery association dues; daily sales receipts
Economics