If a firm produces 20 units of output and incurs a total cost of $1,000 and a variable cost is $700, calculate the firm's average fixed cost of production if it expands output to 25 units

If the Fed increases the supply of bank reserves, ________

A) consumption falls B) investment falls C) the federal funds rate falls D) the inflation rate falls

As more people started building houses in your community, more street lights were installed in your locality making it safer and easier to drive through. This is an example of a(n) ________

A) pecuniary externality B) network externality C) moral hazard D) adverse selection