In the above figure, the line represented by the "1" is the
A) average fixed cost.
B) marginal revenue.
C) total cost.
D) average total cost.
B
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According to this Application, the federal government's assuming the debts of the state governments that had been incurred during the Revolutionary War was seen as a way to
A) force states to be dependant on the federal government. B) prevent rapid inflation. C) balance the federal budget. D) strengthen the federal government.
The cost of borrowing funds which is stated on a loan is the
A) prime interest rate. B) nominal interest rate. C) real interest rate. D) core PCE interest rate.
If a firm hires lazy employees,
A) it must pay them differently or hard-working employees will engage in moral hazard. B) it must pay them more or hard-working employees will engage in moral hazard. C) it must fire them before their laziness spreads to hard-working employees. D) the lazy employees make hard-working employees look good.
Productivity growth tends to affect all industries to the same degree.
Answer the following statement true (T) or false (F)