A firm never operates
A) at the minimum of its ATC curve.
B) at the minimum of its AVC curve.
C) on the downward-sloping portion of its ATC curve.
D) on the downward-sloping portion of its AVC curve.
E) on its long-run marginal cost curve.
D
You might also like to view...
In terms of investing, what is suggested by the random walk theory?
a. Future stock prices cannot be predicted. b. Stocks are a safer investment than bonds. c. Long-term investments are risky but necessary. d. Wealthy people are prepared to handle stock risks.
A statement issued by the president's economic advisors stating that growth can continue without price increases indicates that they believe the relevant aggregate supply curve is
a. vertical. b. horizontal. c. downward sloping. d. upward sloping.
Initially, demand-pull inflation will...
What will be an ideal response?
Economic analysis and policy are made more difficult by
A. having so much data to work with. B. inadequate and imperfect information. C. an incomplete consensus on the basic goals of social policy. D. the lack of public interest and opinion on economic questions. E. the major economic problems society faces.