The firm sells 40 units what are the firms average

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the firm sells 40 units, what are the firm's average total costs? $5.00 $10.00 $20.00 $25.00 CONCEPT
Cost: Total, Marginal and Average 22 In anticipation of the college's athletic banquet, Lauren considered purchasing gifts for several members of the athletics club who had put a lot
of time and effort into making it such a successful program. Lauren decided to buy roses for the women and a leather-bound portfolio and resume paper combination for the men. Which of the following scenarios corresponds to cross-price elasticity? CONCEPT
Cross-Price Elasticity 23 In anticipation of an upcoming football season, State University increased the price of all logo apparel at the bookstore. To the bookstore manager's surprise, he sold fewer units of logo apparel. This situation is an example of which of the following? CONCEPT
Changes in Demand and Movements along Demand Curve 24 Maria had to decide whether to work an additional shift over the weekend or use the time to work on her lawn. The sacrifice Maria makes by choosing one option over the other next best alternative is referred to as the __________.
opportunity cost marginal benefit utility CONCEPT Decision Making Relationships: Rational Consumer 25 Which of the following is NOT an example of the labor-leisure tradeoff? Debbie declines to accept overtime work and pay in order to join her family at the beach for a long weekend. Sam skips dinner with friends in order to complete a project for school. A firm decides to layoff workers in order to meet budget. A CEO decides to have a company retreat over a long weekend, figuring the improvement to morale will offset the cost to the firm. CONCEPT
Resource Allocation for Consumers

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