Which of the following is TRUE?
A) The MC curve intersects AFC at its minimum point.
B) If MC is below AVC, AVC must be increasing.
C) If MC is above ATC, ATC must be increasing.
D) none of the above
Answer: C
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What act of Congress declared restraint of trade illegal and declared any attempt at monopolizing unlawful?
a. the Celler-Kefauver Anti-Merger Act b. the Sherman Antitrust Act c. the Clayton Act d. the Wheeler-Lea Act e. the Clayton-Celler Act
A risk-seeker is likely to:
A. put his money under his mattress instead of buying company stock. B. buy a government bond instead of a stock. C. put money in a savings account instead of investing in a start-up company. D. invest in a start-up company instead of putting his money under his mattress.
On which of these bonds is the prospect of default least likely?
a. a junk bond b. a bond issued by the state of Arizona c. a bond issued by the federal government d. a bond issued by General Electric Corporation
A bilateral monopoly is a market in which there are:
A. many sellers and many buyers. B. many buyers but only a single seller. C. many sellers but only a single buyer. D. only a single seller and a single buyer.