Author Question: If average fixed costs equal 60 and average total costs equal 120 when output is 100, the total ... (Read 57 times)

fasfsadfdsfa · **on:** Jun 30, 2018

If average fixed costs equal 60 and average total costs equal 120 when output is 100, the total variable cost must be:
a. 40.
b. 60.
c. 6,000.
d. 8,000.

Question 2

Which of the following is the significance of a country's price index?
a. It helps in measuring changes in the nominal interest rate in a country.
b. It helps in measuring the total disposable income of a country.
c. It helps in determining a country's real GDP each year.
d. It helps in measuring changes in the prices of only luxury goods.
e. It helps in measuring the demand for goods and services exported by a country.