Consider mandy’s decision to go to college. if she goes to college, she will spend $20,000 on tuition, $10,000 on room and board, and $2,000 on books. if she does not go to college, she will earn $18,000 working in a store and spend $8,000 on room and board. mandy’s cost of going to college is

Jaynet spends $30,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $85,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 40 paintings per year at a price of $4,000 each:

Which represents a surplus in the market? a market price equals equilibrium price. b quantity supplied is greater than quantity demanded. c market price is less than equilibrium price. d quantity supplied equals quantity demanded.

Within the relevant range, if there is a change in the level of the cost driver, then a. total fixed costs will remain the same and total variable costs will change b. total fixed costs will change and total variable costs will remain the same c. total fixed costs and total variable costs will change d. total fixed costs and total variable costs will remain the same