The following data show the relationship between total cost and output in the short run. OutputTotal Cost0$518212315420527The firm's marginal cost is equal to average total cost somewhere between units
A. 3 and 4.
B. 1 and 2.
C. 4 and 5.
D. 2 and 3.
Answer: A
You might also like to view...
NAFTA or GATT disagreements are settled at the United Nations
Indicate whether the statement is true or false
If there is an increase in the number of workers who want to work as accountants, there will be a
A. Movement down the labor supply curve to the left. B. Leftward shift of the labor supply curve. C. Rightward shift of the labor supply curve. D. Movement up the labor supply curve to the right.
Behavioral economists use which technique to test economic theory?
A) controlled experiments B) price theory C) environmental economics D) lie detector tests
A sub-prime loan is
A. at a very high interest rate, sometimes as high as 30%. B. at a rate 1% above the prime rate of interest. C. at an interest below the prime rate of interest. D. the preferred loans of the very wealthy in the United States.