Refer to the above diagram. At output level Q total variable cost is:
A. 0BEQ.
B. BCDE.
C. 0AFQ.
D. 0CDQ.
Answer: A
You might also like to view...
C = 2,800 + 0.9y
I = 750 G = 1,200 NX = 150 Given the equations for C, I, G, and NX above, what is the equilibrium level of GDP (Y)? What will be an ideal response?
If a series of severe storms in the Atlantic Ocean drastically significantly disrupted the transatlantic slave trade, which would most accurately describe the market for indentured servants in colonial America?
a. The price and quantity of servants would increase. b. The price and quantity of servants would decrease. c. The price of servants would increase and the quantity of servants would decrease. d. The price of servants would decrease and the quantity of servants would increase.
Which would be characteristic of monopolistic competition?
A. Relatively small market share for each firm. B. Product standardization. C. A potential for price-fixing through collusion. D. Mutual interdependence among the few firms.
The fact that the Phillips curve broke down during the 1970s means that aggregate demand has no effect on inflation.
Answer the following statement true (T) or false (F)