In the long run, the currency of a country that has a higher inflation rate will appreciate against the currency of a country whose inflation rate is lower

Suppose that a firm is currently producing 500 units of output. At this level of output, TVC = $10,000 and TFC = $25,000. What is the firms ATC?

A. $100 B. $50 C. $70 D. $20

Managers in oligopoly firms must

A. advertise heavily in order to differentiate their product. B. eliminate any barriers to entry if they hope to make short-run profits. C. establish many varieties of their products to cover the spectrum of consumer tastes. D. anticipate the reaction of rival firms.