If marginal cost is:
A. falling, then average total cost must also be falling.
B. rising, then average total cost must also be rising.
C. rising, then average total cost could be either falling or rising.
D. falling, then average total cost could be either falling or rising.
Answer: C
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Which of the statements about the gains from international trade is CORRECT?
A) Everyone gains from international trade. B) Some people gain from international trade and some lose, though overall the gains exceed the losses. C) Some people gain from international trade and some lose; overall the gains exceed the losses. D) Everyone loses from international trade.
Explain what is meant by "investment in children," describing the goals and methods of the parents
What will be an ideal response?
A permanent decrease in taxes leads to
A) a small increase in current consumption. B) a large increase in current consumption. C) a small decrease in future consumption. D) a large decrease in future consumption.
The excess supply created when governments impose a price floor is:
a. shrinking as the floor rises. b. the difference between the old quantity supplied and new quantity demanded. c. the difference between the new quantity supplied and the old quantity demanded. d. the difference between the new quantity supplied and the new quantity demanded. e. actually efficient because prices are higher for suppliers.