The total variable cost curve
A) increases as output increases.
B) shows the variable cost of production given current factor prices.
C) starts at the origin.
D) All of the above
D) All of the above
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The largest change in the unemployment rate from the beginning of a recession to the peak unemployment rate occurred during the recession beginning in:
A. 1929. B. 1973. C. 2007 D. 1980.
Suppose interest rates are kept very low for a long time such that there is a spike in the amount of lending. Everything else held constant, this could cause ________ bubble
A) an irrational exuberance B) a credit-driven C) a stock D) a debt-driven
The allocation of tax burden
A. is the total tax burden less the excess burden. B. is tax payments plus the excess burden. C. is tax shifting. D. is the tax incidence.
OutputTotal RevenueTotal Cost0$0$501407428094312011741601425200172Refer to the above table. The equilibrium price of the product is:
A. $160. B. $80. C. $120. D. $40.