Author Question: A firm sells 30 units of its product at a price of 5 per unit. It incurs a fixed cost of 100 and a ... (Read 190 times)

yoroshambo · **on:** Jun 29, 2018

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.