If you want to know the long-run equilibrium output of one perfectly competitive firm, and you are permitted to see only one curve, which one below is most helpful?
A. Demand
B. Marginal Cost
C. Average total cost
D. Average Fixed cost
E. Average Variable cost
C. Average total cost
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The above table shows some (but not all) national income accounting data for a hypothetical country. According to these data, the value of GDP is ________ billion
A) $2100 B) $1850 C) $2000 D) $2050
Since the Federal Reserve sets the required reserve ratio to less than one, one dollar of reserves can support ________ of checkable deposits
A) exactly one dollar B) less than one dollar C) more than one dollar D) exactly twice the amount
By 1914 the American economy had transformed into an agricultural giant
Indicate whether the statement is true or false
Critics of social regulation argue that it:
A. causes deflation. B. violates the due process clause of the U.S. Constitution. C. is a relatively greater burden for small firms than for large firms. D. improves allocative efficiency.