When output is 100 units, the firm's total fixed cost is $50. What will this firm's total fixed cost be if output doubles to 200 units?
A) $1,000
B) $50
C) $100
D) Can't tell from the information provided.
Answer: B
Economics
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Suppose that when the price of pickles decreases, Teddy increases his purchase of ketchup. To Teddy,
A) pickles and ketchup and substitutes. B) pickles and ketchup are normal goods. C) pickles and ketchup are complements. D) pickles are a normal good and ketchup is an inferior good.
Economics
Which statement is false?
A. Most jobs in defense plants during World War II were held by white males. B. The federal government instituted wage and price controls during World War II. C. Very little new housing was built during the Great Depression and World War II. D. None of the statements are false.
Economics