If the cost of variable inputs used in a firm's production process rose, which of the following would not occur?
a. Its AVC curve would shift up.
b. Its ATC curve would shift up.
c. Its MC curve would shift up.
d. Its AFC curve would shift up.
d
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Along an indifference curve
A. the price ratio is constant. B. the ratio of the marginal utilities is constant. C. the MRS is constant. D. all of the above E. none of the above
An increase in disposable income would tend to shift aggregate demand right
a. True b. False Indicate whether the statement is true or false
When a person responds to a neutral stimulus ________ is being used.
a. classical conditioning b. operant conditioning c. extrinsic reinforcer d. intrinsic reinforcer
Economics may best be defined as the:
A. interaction between macro and micro considerations. B. social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity. C. empirical testing of value judgments through the use of logic. D. study of why people are rational.