According to the table below, what is the average total cost of producing 160 units of output?QFCVC01,0000201,000350501,000700901,0001,0501251,0001,4001451,0001,7501601,0002,100
A. 22.04
B. 16.31
C. 19.38
D. 12.98
Answer: C
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Which of the following statements is TRUE?
A) All monopolists are perfect price discriminators. B) All monopolists earn short-run economic profits. C) A monopolist will leave the market if it incurs an economic loss in the long run. D) A monopolist does not need barriers to entry to sustain a long-run economic profit.
Does inflation result from increases in aggregate demand, short-run aggregate supply, or long-run aggregate supply?
What will be an ideal response?
According to the following graphs, what is X1? The price of Y is $15 per unit.
A. 20 B. 12 C. 10 D. 18 E. none of the above
In the long run, the level of output depends on the price level.
Answer the following statement true (T) or false (F)