Assume that in the short run a firm is producing 100 units of output, has average total costs of $100, and average variable costs of $50. The firm's total fixed costs are

When a game is played repeatedly

A) only customers learn. B) customers and firms are both able to learn. C) firms end up colluding. D) a prisoner's dilemma will be the equilibrium.

For which of the following commodities are consumers usually willing to pay a premium to save time?

a. Microwave oven b. A new production facility c. Stocks of a company d. Residential property