ATC always exceeds AVC
Indicate whether the statement is true or false
T
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Refer to Table 2-2. Assume Nadia's Neckware only produces ascots and bowties. A combination of 24 ascots and 12 bowties would appear
A) along Nadia's production possibilities frontier. B) inside Nadia's production possibilities frontier. C) outside Nadia's production possibilities frontier. D) at the horizontal intercept of Nadia's production possibilities frontier.
Some argue that the best response to monopolies is no response at all, because:
A. they are too powerful to be dealt with effectively. B. no one can ever decide which monopolies to regulate. C. the creation of regulation may be too difficult. D. left unchecked, all monopolies eventually shut down.
_____ is an example of specific human capital
a. High school education b. A bachelor's degree in Economics c. On-the-job learning for a sales executive d. A PhD in astrophysics
With parity pricing in agriculture, farmers
a. earn higher incomes now than nonfarmers b. fared relatively well during the Depression years of the 1930s c. have seen a persistent downward movement in their purchasing power d. did relatively poorly during the 1920s e. face a declining demand for food in the United States