Which of the following statements is true?
A) As output increases, average fixed cost becomes smaller and smaller.
B) Average fixed cost does not change as output increases.
C) The marginal cost curve intersects the average fixed cost curve at its minimum point.
D) When marginal cost is greater than average fixed cost, average fixed cost increases.
Answer: A
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Which of the following exchanges handles numerous technology companies including Intel and Microsoft?
A. NASDAQ B. NYSE C. AMEX D. None of the above handle technology stocks.
In a perfectly competitive market, the process of entry and exit will end when (i) accounting profits are zero. (ii) economic profits are zero. (iii) price equals minimum marginal cost. (iv) price equals minimum average total cost
a. (i) and (ii) only b. (ii) and (iii) only c. (ii) and (iv) only d. (i), (ii), (iii), and (iv)
Technology standards work in reducing externalities of all kinds.
A. True B. False C. Uncertain
Refer to the above table. The marginal utility of the 7th movie for Michael is
A. 35 units of utility. B. 435 units of utility. C. 20 units of utility. D. 15 units of utility.