If average variable cost is falling, we know that:
a. marginal cost is falling.
b. marginal cost is less than average variable cost.
c. marginal cost is greater than average variable cost.
d. marginal cost is rising.
b
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The national defense of the United States is not excludable because
a. my enjoyment of the national defense does not diminish your enjoyment of the national defense of the United States. b. my enjoyment of the national defense does diminish your enjoyment of the national defense of the United States. c. once the nation is defended, it is impossible to prevent any single person from enjoying the benefit of this defense. d. once the nation is defended, it is possible to prevent any single person from enjoying the benefit of this defense.
Explain why even small changes in the rate of economic growth are significant. Use the “rule of 70” to demonstrate the point
Please provide the best answer for the statement.
The features of the U-Form of firm organization are
a. workers have trouble developing a high degree of functional expertise b. it is difficult for employees to share information across positions within a division c. employee evaluation is simplified by managers having similar skill sets than workers d. coordination across divisions is simple and does not take much management time
Distinguish between real rate of interest and nominal rate of interest