Given total cost and the quantity of output, marginal cost and average cost can be determined
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Ceteris paribus refers to all of the following ideas except
a. changing just one variable at a time b. holding everything else constant c. everything else being equal d. one-to-one cause and effect relationships e. in the absence of other influences
For a factor of production to be called capital it must:
A) be produced. B) occur in the natural environment. C) be a part of human skill. D) be a result of a stock issue.
The demand curve is downward-sloping because of the law of
A. diminishing marginal utility. B. diminishing consumer equilibrium. C. consumer equilibrium. D. diminishing utility maximization.
The publication, Consumer's Reports, is one tool designed to address:
A. the free-rider problem. B. moral hazard. C. symmetric information. D. adverse selection.