The average total cost (ATC) curve will be downward sloping so long as
A. Average variable cost is less than average total cost.
B. Marginal cost is less than average total cost.
C. Average fixed cost is less than average total cost.
D. Marginal cost is greater than average total cost.
Answer: B
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When a U.S. company purchases $1 million worth of French cheese, the value of that transaction is recorded in the
A) current account. B) capital and financial account. C) transfer account. D) investment account. E) goods account.
If economists forecast an increase in aggregate expenditure, which of the following is likely to occur?
A) GDP will fall. B) Wages will fall. C) Inventories will rise. D) GDP will rise.
Which of the following is an example of a company whose stock showed evidence of a price bubble?
a. Facebook b. Google c. Amazon d. all of the above
Use the following table to answer the question below.PriceQuantity SuppliedQuantity Demanded$101002951115027512190250132202201424518015265135If a technological advance lowers production costs such that the quantity supplied increases by 60 units of this product at each price, the new equilibrium price would be
A. $12. B. $11. C. $14. D. $13.