Which of the following statements is NOT TRUE?

A) AC = AFC + AVC
B) C = F + VC
C) AVC = wage/MPL
D) AFC = AC - AVC


C

Economics

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Which of the following identities describe the equation of exchange?

a. Money in circulation × prices = velocity × income b. Money in circulation × income = velocity × prices c. Real GDP = money in circulation × velocity d. Nominal GDP = money in circulation × velocity e. Real GDP = prices × money in circulation × velocity

Economics

When the current price of a good is below the equilibrium price:

A. there will be excess supply. B. buyers have an incentive to offer to pay sellers more than the current price. C. the price will tend to stay below the equilibrium price. D. sellers will notice their inventories are growing.

Economics

Collective bargaining involves negotiations over

A. pay. B. working conditions. C. fringe benefits. D. All of these choices are correct.

Economics

The assumption for perfect competition and monopolistic competition that enables economic profit to move towards zero is

A. freedom of entry and exit. B. homogeneous products. C. government involvement. D. perfect Information.

Economics