Use the above figure. The AVC at output 5 is
A. $5.00.
B. $35.00.
C. $3.00.
D. $2.00.
Answer: C
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Firms use the discount rate to
A. compute present value. B. account for loss inventory. C. calculate profit margins. D. repatriate parent companies.
Commodities that typically last three years or more are called:
A) durable goods. B) nondurable goods. C) services. D) none of the above.
The IS curve will shift to the right if:
a. the government deficit decreases. b. consumer confidence decreases. c. the MPC decreases. d. taxes decrease. e. the money supply increases.
The marginal cost of labor for a perfectly competitive firm is given by:
a. the change in total revenue that results from employing an additional worker. b. the market wage rate. c. its marginal revenue product curve. d. the demand curve for labor. e. the marginal product of labor.