If the marginal cost were $12, how many units of output would this firm produce?
A. 1
B. 2
C. 3
D. 4
D. 4
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All the costs of a transaction are referred to as
A) transfer costs. B) transactions costs. C) marketing expenditures. D) accounting costs.
For a monopolist, marginal revenue is always
a. below market price b. equal to market price c. greater than market price d. equal to total revenue e. equal to total cost
If taxes rise, then aggregate demand shifts
a. right, making unemployment higher than otherwise. b. right, making unemployment lower than otherwise. c. left, making unemployment higher than otherwise. d. left, making unemployment lower than otherwise.
Which of the following is TRUE?
A. If MC is above ATC, ATC must be increasing. B. The MC curve intersects AFC at its minimum point. C. If MC is below AVC, AVC must be increasing. D. none of these