If marginal cost is rising
A) marginal product in rising.
B) marginal product is falling.
C) average variable costs is equal to marginal cost.
D) average variable cost is above average total cost.
B
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A successful strategy of price discrimination requires that a firm be a price taker
Indicate whether the statement is true or false
We collapse the consumer's current-period and future-period budget constraints into a single lifetime budget constraint by
A) assuming no default. B) substituting for savings. C) eliminating consumption smoothing. D) assuming the consumer knows the future.
Suppose the government lowers unemployment by hiring more government workers. How does it matter whether wages and prices are sticky?
What will be an ideal response?
The multiplier measures the:
A. effect of government spending or tax cuts on national income. B. number of times each dollar is spent in the economy. C. supply of money in the economy. D. effect of household spending on national income.