Total fixed cost is the sum of all
A) costs of the firm's fixed factors of production.
B) costs associated with the production of goods.
C) costs that rise as output increases.
D) the marginal costs of the different factors of production.
A
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The empirical evidence indicates that compared to economies that are less free, countries with institutions and policies more consistent with economic freedom
a. grow more rapidly, but experience higher poverty rates. b. achieve higher income levels per person but experience higher poverty rates. c. grow more rapidly and achieve larger poverty rate reductions. d. Experience less rapid rates of economic growth and higher overall poverty rates.
In order to practice price discrimination, a firm must be in a market such that the consumers in its market:
A. all have identical tastes. B. all have identical price elasticities of demand. C. have different price elasticities of demand. D. have the same demand for its product.
Ceteris paribus, the price level will decrease if the aggregate
A. Supply curve shifts to the left. B. Supply and demand curves both shift to the right. C. Demand curve shifts to the left. D. Demand curve shifts to the right.
The earned income tax credit (EITC) has been a successful anti-poverty policy by encouraging participation in the workforce.
Answer the following statement true (T) or false (F)