Which of the following statements is true?
A. TC = TFC ? TVC
B. AVC = TC / Q
C. TFC = TC ? TVC
D. MC equals the change in ATC divided by the change in Q.
Answer: C
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The gross domestic product of a country is $500,000. If its income per worker of the population is $100, the size of its employed labor force is ________
A) 5,000 B) 200 C) 8,000 D) 2,500
A certain amusement park offers a 50 percent discount to kids between the ages of 8 and 14 years. This is an example of:
A) shadow pricing. B) first-degree price discrimination. C) third-degree price discrimination. D) second-degree price discrimination.
Because shifts in aggregate demand are not viewed as being particularly important to aggregate output fluctuations, they do not see much need for activist policy to eliminate high unemployment. "They" refers to proponents of
A) the natural rate hypothesis. B) monetarism. C) the Phillips curve model. D) real business cycle theory.
The federal funds rate is the interest rate the Fed charges to banks when it lends reserves to them.
a. true b. false