Average total cost equals:
A. total fixed cost plus total variable cost.
B. average fixed cost minus average variable cost.
C. average fixed cost plus average variable cost.
D. total cost minus average cost.
Answer: C
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In the figure below, label the axes and then draw a demand for money curve. Illustrate an increase in the demand for money
What will be an ideal response?
Which of the following statements regarding U.S. economic growth is NOT correct?
A) Over the past 100 years, on the average real GDP per person grew 2 percent a year. B) The average annual growth rate of real GDP per person in the United States was rapid during World War II. C) In the 1930s, real GDP fell well below its trend. D) The growth rate of real GDP per person accelerated between 1973 to 1984.
The subgame-perfect equilibrium of a two-stage game in which firms first choose capacities and then engage in a Bertrand price setting game resembles the equilibrium in:
a. the competitive model. b. the Cournot model. c. the cartel model. d. the price leadership model.
The multiplier effect suggests that:
A. spending $1 increases GDP by more than $1. B. spending $1 increases GDP by less than $1. C. saving $1 increases GDP by more than $1. D. spending $1 decreases GDP by more than $1.