If the British government fixes the exchange rate for its currency (the pound) below market equilibrium, it will contribute to a positive balance on current account

Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. When the firm hires 6 workers the firm produces 90 units of output. Fixed costs of production are $6 and the variable cost per unit of labor is $10 . The marginal product of the seventh unit of labor is 4 . Given this information, what is the average total cost of production when the firm hires 7

workers? a. $10.06 b. $9.64 c. 81 cents d. 70 cents

According to behaviorial economists, traditional economic models assume all the following characteristics EXCEPT

A. unbounded resources. B. unbounded rationality. C. unbounded selfishness. D. unbounded willpower.