Recall the Application about the marginal cost involved in producing crude oil to answer the following question(s).Recall the Application. As the volume of crude oil increases, the marginal cost of production initially ________ at a moderate rate and then eventually ________ at a much faster rate.
A. increases; increases
B. increases; decreases
C. decreases; increases
D. decreases; decreases
Answer: A
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________ behavioral assumption about humans was that people usually act in a rational, self-interested way
A) Adam Smith's B) Janet Yellen's C) Karl Marx's D) Thomas Malthus's
A short-term debt instrument issued by well-known corporations is called
A) commercial paper. B) corporate bonds. C) municipal bonds. D) commercial mortgages.
The negative impact of government debt on the economy is mitigated by ________
A) the impact of the debt on national saving B) government spending on schools and highways C) the interest rate effects of government budget deficits D) the phenomenon of crowding-out
To attract more bidders, and more aggressive bidders, to your auction
a. withhold relevant information about the value of the object b. don't allow bidders to know how others are bidding c. do not allow potential bidders to examine the object too closely d. hold oral auctions