Average total cost is minimized at a higher level of output than average variable cost.
Answer the following statement true (T) or false (F)
True
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The sum of the number of employed people and the number of unemployed people equals the labor force of a country
a. True b. False Indicate whether the statement is true or false
When economists propose taxes as a way to balance out the presence of externalities, they try to propose taxes:
A. on what will likely generate the most revenue. B. on what is simplest to implement. C. on the action that creates the externality, rather than the externality itself. D. based on the externality itself, rather than the action that creates it.
In general, the more the substitutes available for a good
A. the more inelastic the demand for the good. B. the more elastic the demand for the good. C. the greater the demand for the good. D. the less the demand for the good.
At a particular level of output, the difference between average total cost and average fixed cost is average variable cost.
Answer the following statement true (T) or false (F)