The average total cost curves for Plant 1, ATC0, and Plant 2, ATC1, are shown in the figure above. Over what range of output is it efficient to operate Plant 1?
A) 0-20
B) 0-25
C) 20-25
D) greater than 25
B
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In the 1990s, Americans savings rate was _____________ than in the 1980s.
A. higher B. slightly higher C. lower D. the same as
A perfectly competitive firm is producing a good at a level where P = $90 and MC = $90. The firm will continue to produce as long as:
A. AVC is less than $90. B. AFC is less than $90. C. price does not increase. D. ATC is greater than $90.
Recall the Application about growth in China and India to answer the following question(s). From 1978 to 2004, China grew at a rate of 9.3 percent per year and India grew at a rate of 5.4 percent per year.According to this Application, China's GNP per capita and India's GDP per capita are ________ U.S. GNP per capita.
A. now greater than B. still significantly less than C. now equal to D. within 5 percentage points of
Inflation makes money an imperfect store of value.
Answer the following statement true (T) or false (F)