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Author Question: Suppose a publisher faces the following costs of producing 10,000 newspapers each month: 5,500 cost ... (Read 49 times)

lracut11

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on: Jun 30, 2018
Suppose a publisher faces the following costs of producing 10,000 newspapers each month: 5,500 cost of labor; 2,200 monthly mortgage payment; 250 cost of electricity to run the printing presses; 800 for ink and paper; and 200 in city property taxes (based on the value of the building and land). Its total variable costs are:
 a. 8,950.
  b. 8,750.
  c. 6,550.
  d. 6,300.
  e. 5,500.

Question 2

The concept of invisible hand introduced by Adam Smith explains:
 a. why people act in their own best interests.
 b. why the government intervenes to overcome failures in private markets.
 c. how people, acting out of self-interest, unintentionally promote the general good.
 d. how comparative advantage and specialization promote international trade.
 e. how the creation of goods and services generates its own demand by creating employment and income.


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ju

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


lracut11

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

pratush dev

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Reply 3 on: Yesterday
Excellent

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