Refer to the above diagram. This firm's average fixed costs are:
A. not shown.
B. equal to the per unit change in MC.
C. the vertical distance between AVC and MC.
D. the vertical distance between AVC and ATC.
Answer: D
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Which of the following would best describe the demand curve faced by a monopoly firm?
A) horizontal line at the market price B) vertical line at the output level C) same as the market demand curve D) same as the perfect competitor's demand curve
Mutual funds that invest only in companies that meet certain criteria and usually exclude companies that produce tobacco, weapons, or alcoholic beverages are known as:
a. socially responsible funds. b. global funds. c. equity funds. d. fixed-income funds. e. money market funds.
We could increase the production of both heart transplants and round-the-world trips if we moved to point T from point
A. P.
B. Q.
C. R.
D. S.
Monopoly is a market in which one firm sells a good or service that has? _____ substitutes and? _____ blocks the entry of new firms.
A. ?close; a barrier B. ?close; no barrier C. no? close; no barrier D. no? close; a barrier