Average total cost is defined as:
A. total cost divided by price.
B. variable cost divided by total output.
C. variable cost divided by price.
D. total cost divided by total output.
Answer: D
You might also like to view...
Government health and safety regulations or anti-discrimination laws can reduce real wages by:
A. decreasing the supply of labor. B. increasing worker productivity. C. reducing employer costs. D. decreasing the demand for labor.
The fungibility of money means that
A. the categories people create to organize their expenditures are meaningless in financial terms. B. people often create false distinctions between categories of debt. C. thinking large, one-time expenses should be paid off over a period of time, while everyday expenses should come out of your checking account, is irrational. D. All of these statements are true.
A free good is:
A) also a scarce good. B) a relatively abundant good. C) a good with no opportunity cost. D) a good with relatively low opportunity cost.
In foreign exchange markets, who demands dollars and who supplies dollars?
What will be an ideal response?