Marginal analysis__________ picks out _________ optimum as minimization of total cost.
Fill in the blank(s) with the appropriate word(s).
always, the same
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Other things remaining the same, which of the following is likely to happen if all homemakers in an economy start working as paid labor?
A) There will be a fall in both the wage rate and the employment level. B) There will be an increase in both the wage rate and the employment level. C) There will be an increase in the wage rate in the country and a fall in the employment level. D) There will be a fall in the wage rate in the country and an increase in the employment level.
Which of the following is not counted in M1?
A) currency in circulation B) traveler's check balances C) coins in circulation D) credit card balances E) checking account balances
Average variable cost can be calculated using any of the formulas below except
A) ?(TC - FC)/?Q. B) TVC/Q. C) (TC - FC)/Q. D) (TC/Q) - AFC.
Goods that are neither rival in consumption nor excludable are:
A. a public good. B. an artificially scarce good. C. a common resource. D. a private good.