Which of the following is true if the total cost curve is rising?
a. Total fixed cost is decreasing.
b. Total fixed cost is increasing.
c. Marginal cost is decreasing.
d. Marginal cost is increasing.
d
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An earthquake destroys a good portion of the capital stock. How would you expect this to affect the capital—labor ratio in the long run? There would be
A) a rightward movement along the saving-per-worker curve and an increase in the capital—labor ratio. B) no change in the long-run capital—labor ratio. C) a downward shift in the saving-per-worker curve and a decrease in the capital—labor ratio. D) a leftward movement along the saving-per-worker curve and a decrease in the capital—labor ratio.
What must a government know for the infant industry argument to be a valid reason for imposing tariffs?
What will be an ideal response?
The narrowest definition of money:
A. includes the things that can be used in transactions immediately. B. contains only cash and bank reserves held at the Fed. C. is referred to as hard money. D. All of these are true.
Economists who asset that the AS curve is vertical believe that changes in Real GDP originate only on the _____________of the economy; so government policy that is intended to impact the ____________________ of the economy will change only ______________, not ________________
A) demand side; supply side; Real GDP; prices B) demand side; supply side; prices; Real GDP C) supply side; demand side; Real GDP; prices D) supply side; demand side; prices; Real GDP