Which of the following equations is incorrect?
A) AFC = ATC - AVC B) ATC = AVC - AFC C) AVC + AFC = ATC D) ATC - AFC = AVC
B
You might also like to view...
If a French company exports $2 million of machinery to Italy and French tourists spend $2 million at Italian beaches, the Italian current account balance ________, and the Italian financial account balance ________
A) rises; rises B) rises; is unchanged C) is unchanged; is unchanged D) is unchanged; rises
According to the above figure for a gasoline market, an increase in the price from $2 to $4 will result in
A) a shortage of 30 million gallons. B) an increase in quantity demanded of 10 million gallons. C) an increase in quantity supplied of 20 million gallons. D) an increase in demand of 20 million gallons.
Since individual consumers do not know how much of the price they pay for a commodity is due to trade protection, consumers rarely lobby their political representatives to eliminate protection and reduce prices
a. True b. False Indicate whether the statement is true or false
Discuss the three principles of equity applied to taxation in the text