A firm sells 30 units of its product at a price of 5 per unit. It ...

[yoroshambo]

A firm sells 30 units of its product at a price of 5 per unit. It incurs a fixed cost of 100 and a variable cost of 20. The firm's profit is:
 
  A) 30.
  B) 50.
  C) 100.
  D) 150.

Question 2

According to the economic way of thinking, money is defined as
 
  A) anything backed by gold.
  B) anything backed by some other commodity.
  C) anything used as a general medium of exchange.
  D) anything the government declares to be legal tender.

[mariahkathleeen]

Answer to Question 1

A

Answer to Question 2

C

[yoroshambo]

YES! Correct, THANKS for helping me on my review

[steff9894]

Thanks for the timely response, appreciate it