The minimum point on the marginal cost curve corresponds to the:
a. maximum point on the total cost curve.
b. minimum point on the total cost curve.
c. inflection point on the total variable cost curve.
d. midpoint of the total cost curve.
c
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The world's population is increasing for many reasons. Which reason seems plausible, but is NOT currently contributing to population growth?
a. increased agricultural productivity b. increased birth rates c. decreased mortality rates d. improvements in health care
Kaitlyn purchased one share of Northwest Energy stock for $200; one year later she sold that share for $400 . The inflation rate over the year was 50 percent. The tax rate on nominal capital gains is 50 percent. What was the tax on Kaitlyn's capital gain?
a. $50 b. $75 c. $100 d. $200
The primary concern of economics is the study of:
A. Why human wants exist and what motivates them. B. How to distribute goods and services according to human needs. C. How best to allocate scarce resources among competing uses. D. Who holds the most political power in a particular country.
Two ways to lower the deficit are to
A. raise taxes and raise government spending. B. lower taxes and lower government spending. C. raise taxes and lower government spending. D. lower taxes and raise government spending.