The Uruguay round of GATT (1993 ) talks
A) reduced trade barriers and tariffs.
B) increased trade barriers and tariffs.
C) lowered some trade barriers but increased tariffs.
D) left tariffs and trade barriers unchanged.
A
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Leverage refers to
A) the ratio of total assets of a financial institution to total liabilities. B) the ratio of the liabilities of a financial institution to equity capital.. C) the ratio of equity capital of a financial institution to the liabilities. D) the ratio of the debt of a financial institution to liabilities.
If average total cost is $50 and average fixed cost is $15 when output is 20 units, then the firm's total variable cost at that level of output is
A) $1,000. B) $700. C) $300. D) impossible to determine without additional information.
The Cournot model assumes that firm A maximizes its profit, holding firm B's output constant
What will be an ideal response?
If the market price is lower than a perfectly competitive firm's average total cost, the firm will
A) immediately shut down. B) continue to produce if the price exceeds the average fixed cost. C) continue to produce if the price exceeds the average variable cost. D) shut down if the price exceeds the average fixed cost. E) shut down if the price is less than the average fixed cost.