Which of the following is FALSE?
a. Increase production if MR>MC
b. Produce where MR=MC
c. Average cost is total cost per unit of production
d. Produce where MR=AC
d
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Refer to Figure 13-1. Ceteris paribus, a decrease in the growth rate of domestic GDP relative to the growth rate of foreign GDP would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
The accompanying table shows a pizzeria's fixed cost and variable cost at different levels of output. Pizzas sell for $20 each.Number of Pizzas Per DayFixed Cost ($/Day)Variable Cost ($/Day)050002550015050500250755004501005008501255001,650 When the pizzeria makes 100 pizzas a day, its fixed cost is ________ and its total cost is ________.
A. $350; $850 B. $850; $1,650 C. $500; $850 D. $500; $1,350
On this production possibilities curve, which point represents the highest production of military goods at an efficient level in the current economy?
a. A
b. B
c. C
d. D
unemployment compensation and welfare payments
What will be an ideal response?