The gap between average total cost and average variable cost:

a. is constant at all ranges of output.
b. is high at high levels of production.
c. declines as output expands.
d. depends on the production technology.


C

Economics

You might also like to view...

The cost of risk is the same for everyone

Indicate whether the statement is true or false

Economics

Latin America

A) is significantly smaller than the NAFTA market in terms of population. B) has a smaller population, but a larger GDP than the NAFTA market. C) has a larger population than the NAFTA market. D) is similar in population to the NAFTA market.

Economics

Using the information contained in Situation 20-1, if planned investment decreases by $100, the equilibrium aggregate output will change by

A) -$1,000. B) $-100. C) $100. D) $1,000.

Economics

Suppose Johnny Stroller sells 12, 25, and 75 year-old scotch in under black, red, and blue labels. Suppose the storage costs are zero and the initial production costs are the same. What is the implied (approximate) interest rate if black sells for $18, red for $34 and blue for $388

a. 2 b. 5 c. 8 d. 10

Economics