As output rises, average fixed cost
A. rises.
B. falls.
C. remains the same.
B. falls.
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The payroll tax is the federal government’s biggest source of revenue.
Answer the following statement true (T) or false (F)
If the U.S. price level decreases, then
A. the expenditure schedule slope will flatten. B. the expenditure schedule slope will become steeper. C. shift the expenditure schedule upward. D. shift the expenditure schedule downward.
A change in which of the following variables will have no direct effect on domestic demand?
A) domestic income B) foreign income C) government spending D) the interest rate (r) E) none of the above
Most economists believe price ceilings ______________
A. do more harm than good. B. have no impact on the market. C. do more good than harm. D. are necessary to protect consumers.