What is the shape of the average total cost curve for a firm in the short run?
a. U-shaped.
b. A horizontal line.
c. A vertical line.
d. A curve that slopes upward to the right.
a
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If either the production or consumption of a good generates an external cost, then the market equilibrium quantity will be:
A. greater than the socially optimal quantity. B. socially optimal. C. equal to zero. D. less than the socially optimal quantity.
What is the official definition of the poverty line? What are some causes of poverty?
What will be an ideal response?
Saving equals
A. consumption spending minus savings. B. disposable income minus savings. C. disposable income minus consumption spending. D. disposable income minus taxes.
If your income rises and, as a result, you buy fewer packages of Ramen Noodles, then Ramen Noodles are a(n)
A. substitute. B. complement. C. inferior good. D. normal good.