The MC curve intersects the ATC and AVC curves ______.
a. when MC is greater than ATC
b. when MC is less than AVC
c. at those curves’ minimum points
d. at those curves’ highest points
c. at those curves’ minimum points
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Suppose that the number of companies selling computer software decreases. How does this change affect the supply of computer software and the supply curve of computer software?
What will be an ideal response?
If the price increases by 20 percent and the quantity supplied increases by 40 percent, what does the elasticity of supply equal?
What will be an ideal response?
Refer to the Article Summary. Colorado taxes marijuana with a 12.9% sales tax on buyers and a 15% wholesale excise tax on producers, or a total tax of 27.9%
Suppose the actual burden of the tax falls 80 percent on consumers and 20 percent on producers. In this case, consumers will actually bear the tax burden of about ________ percent of the selling price and producers will actually bear the tax burden of ________ percent of the selling price. A) 80; 20 B) 13; 15 C) 46; 54 D) 22; 6
The predominant form of household debt is
A) consumer installment debt. B) collateralized debt. C) unsecured debt. D) unrestricted debt.