In the above figure, which of the following statements is FALSE?
A) The total fixed cost curve is curve C.
B) Total variable cost and total cost both increase as output increases.
C) Marginal cost is equal to the slope of curve A.
D) The vertical gap between curves A and B is equal to average fixed cost.
D
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Refer to Scenario 1. Is the slope coefficient statistically different from zero?
A) No. B) Yes. C) Inconclusive. D) None of the above.
Complementary goods have a positive cross-price elasticity
a. True b. False Indicate whether the statement is true or false
What is the cost of transactions as it relates to the harm caused by inflation?
A. The cost associated with the time and effort of managing your spending B. Production costs plus profit C. The cost of the products whose prices are rising D. The cost of the BLS market basket
Related to the Economics in Practice on page 176: When there are only a few empty cabins on a large cruise ship, the marginal cost of adding extra passengers to occupy those cabins
A. is probably very low. B. will be negative. C. will primarily depend on the number of customers waiting to travel. D. is generally quite high.