The U-shaped average-total-cost curve reflects the U-shaped average-fixed-cost curve
a. True
b. False
Indicate whether the statement is true or false
False
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Unemployment that occurs when there is deficient demand for the goods and services of an economy is called
A. structural unemployment. B. frictional unemployment. C. cyclical unemployment. D. natural unemployment.
If the x-axis variable increases while the y-axis variable decreases, the variables x and y are negatively related
Indicate whether the statement is true or false
When state universities charge higher tuition fees to out-of-state students than to local students, the universities are practicing
A) first-degree discrimination. B) second-degree discrimination. C) third-degree discrimination. D) fourth-degree discrimination.
If a firm wants to increase revenue, it should decrease the selling price of its product if it is currently producing in the ________ portion of its demand curve.
A. perfectly inelastic B. inelastic C. elastic D. unit elastic