Use the Following to Answer Question

question 37

Multiple Choice

Use the following to answer question:
-(Table: Costs of Birthday Cakes) Use Table: Costs of Birthday Cakes.Assume that fixed costs are $10.What is the average total cost of 2 cakes?

• A)$35.00
• B)$25.00
• C)$17.50
• D)$12.50

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Definitions:

Free Trade

An economic policy that allows imports and exports between countries with few or no tariffs, quotas, or prohibitions.

Bilateral Trade Agreement

A trade pact between two countries to facilitate trading and commerce, reducing tariffs and other trade barriers to mutually benefit the economies of the two nations.

Safety Standards

Established norms and criteria designed to ensure products, services, or environments are safe for use or occupation.

Limit Inflow

Measures or policies set to restrict the amount of incoming resources, funds, or foreign currencies into a country or system.