By using more labor to produce more output, a firm can always reduce its
A) marginal cost.
B) average variable cost.
C) average total cost.
D) average fixed cost.
D
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An options contract
A) confers the rights to buy or sell an underlying asset at a predetermined price by a predetermined time. B) is another name for a futures contract. C) may be written for debt instruments, but not equities. D) may be written for equities, but not for debt instruments.
Tatiana observes that all of her friends who have more than five tattoos also have more than five body piercings, and concludes that getting multiple tattoos makes people also get multiple piercings. Tatiana is
A. correct in her analysis. B. describing regression discontinuity. C. confusing correlation and causation. D. describing difference-in-differences.
The figure above represents the production possibilities frontier for a country. a) The nation is currently producing at point B and wants to move to point C
What is the opportunity cost of the move? b) The nation is currently producing at point B and wants to move to point A. What is the opportunity cost of the move?
Refer to Table 2-5. What is Estonia's opportunity cost of producing one board foot of lumber?
A) 0.2 cell phones B) 5 cell phones C) 8 cell phones D) 32 cell phones