Refer to the Article Summary. Assume that after the record decline in U.S. farm income in 2015, farmers are expected to break even in 2016. This means that at the quantity being produced in 2016
A) MR =ATC. B) AVC =ATC. C) MC =AVC. D) MR =MC.
A
You might also like to view...
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Which of the following will shift the long-run aggregate supply curve to the right?
a. Increase in the price level b. Increase in the natural rate of unemployment c. Decrease in per capita GDP d. Increase in the rate of economic growth e. Increase in the rate of inflation
If market forces change the exchange rate value of one dollar from 80 yen to 83.25 yen, then the dollar has
a. appreciated. b. depreciated. c. been revalued. d. been devalued.
Relating to the Economics in Practice on page 340: Europe has a carbon tax, and electricity producers are among the largest of the carbon producing firms. The carbon tax increases the costs of the electricity producers, which will shift the ________ curve in the electricity market to the ________.
A. demand; right B. demand; left C. supply; right D. supply; left