Which of the following formulas is not correct?
a. ATC = AVC + (TFC/Q)
b. TVC = TC/Q
c. TC = TFC + TVC
d. AFC = TFC/Q
e. TVC = AVC ? Q
B
You might also like to view...
According to the principle of diminishing returns to labor, if the amount of capital and other inputs are held constant, employing additional workers:
A. increases output at an increasing rate. B. increases output at a decreasing rate. C. increases output at a constant rate. D. decreases output at an increasing rate
You lose your job and, as a result, you buy fewer iTunes music downloads. This shows that you consider iTunes music downloads to be a(n) a. luxury good
b. inferior good. c. normal good. d. complementary good.
In this graph, at point e ______.
a. economic profits are growing
b. short-run and long-run average total costs are equal
c. the economic situation is unstable
d. short-run and long-run average total costs are far apart
Once people believe the Fed's commitment to keep unemployment at the natural rate, the Fed can reduce unemployment below the natural rate
A) in both the short run and the long run. B) in both the short run and the long run, but only after changing peoples' expectations. C) in the long run, but not the short run. D) in the short run, but not in the long run. E) none of the above