In the United States during the Great Depression, tariffs were ________ than they were following World War II, and ________ than they are today
A) higher; higher B) higher; lower C) lower; lower D) lower; higher
A
Economics
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Phases and turning points of the business cycle are expansion, peak, recession and trough
Indicate whether the statement is true or false
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Which of the following is true concerning cost curves?
a. TC + TFC = TVC b. AFC + AVC = ATC c. MC + AVC = TVC d. TC – MC = TFC e. ATC + MC = TC
Economics
In the short-run, when output is zero,
A. fixed cost is zero. B. variable cost is zero. C. total cost is zero. D. All of the choices are correct.
Economics
Describe and explain how a perfectly competitive firm's demand curve is found
What will be an ideal response?
Economics