Marginal cost is equal to average variable cost when average variable cost is
A. equal to total variable cost.
B. at its minimum.
C. at its maximum.
D. zero.
Answer: B
You might also like to view...
Comparing the AS-AD model and the Phillips curve, we see that
A) they both are graphed as a relationship between the rate of inflation and the unemployment rate. B) the AS-AD model uses the price level and the Phillips curve uses the rate of inflation. C) the AS-AD model is graphed as a relationship between the inflation rate and the rate of real GDP. D) the AS-AD model uses the price level and the Phillips curve uses real GDP. E) the Phillips curve is graphed as a relationship between the price level and the unemployment rate.
If the quantity of a good or service demanded at the existing price is less than the quantity supplied, ________ exists
A) a shortage B) a surplus C) market equilibrium D) All of the above are possible.
The concept of human capital describes
A) human skills, that is, the quality of labor. B) human population, that is, the quantity of labor. C) the number of machines per employed worker. D) the number of workers per operating machine. E) the number of machines (capital) that have been produced by people (humans).
Which of the following is the lowest rating given to an investment-grade bond by Moody's?
A) Aa B) A C) Baa D) B