The average total cost curves for plants A, B, C, and D are shown in the above figure. It is possible that the long-run average cost curve runs through points
A) a, b, and c.
B) b, d, and e.
C) d, e, and f.
D) c and d.
C
You might also like to view...
The phase in the business cycle marked by a relatively high level of real GDP, full employment, and inflation is called
a. a recession b. a peak c. prosperity d. a recovery e. a trough
If the price of inputs rises and personal income taxes rise:
a. Aggregate demand rises, and aggregate supply falls. b. Aggregate demand rises, but aggregate supply does not change. c. Aggregate demand falls, and aggregate supply rises. d. Aggregate demand and aggregate supply rise. e. Aggregate demand and aggregate supply fall.
If the price of inputs falls and the level of consumer indebtedness rises:
a. Price index rises, and the change in real GDP is uncertain. b. Price index falls, and real GDP rises. c. The change in price index is uncertain, and real GDP rises. d. Price index falls, and real GDP falls. e. Price index falls, and the change in real GDP is uncertain.
When tax code changes reduce investment incentives, the _____ for loanable funds curve shifts to the _____. This results in a(n) _____ in the interest rate and a(n) _____ in investment
Fill in the blank(s) with correct word