The ATC curve is __________ and the AVC curve is __________.
A. U-shaped; U-shaped
B. not U-shaped; not U-shaped
C. U-shaped; not U-shaped
D. not U-shaped; U-shaped
A. U-shaped; U-shaped
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In the figure below, a firm that is using peak load pricing sets a price of ________ in the peak period and a price of ________ in the off-peak period.
A) $60; $30
B) $60; $20
C) $20; $10
D) $60; $10
Which of the following is NOT a reason why an increase in the interest rate usually makes investment projects less attractive?
A. At a higher rate, future dollars are worth less compared to current dollars. B. A typical investment project incurs the majority of its costs early in its life. C. A typical investment project receives a disproportionate fraction of its revenue early in its life. D. At a higher rate, putting money into the bank is more attractive.
The demand for Exxon gasoline is ____ the demand for all gasoline
a. exactly as elastic as, and of a different slope from b. more elastic than c. less elastic than d. exactly as elastic and of a different slope from
Which of the following best describes the economy's stock of equipment and structures?
a. capital b. aggregate demand c. long-term inventory d. aggregate stock