The shape of the total-cost curve is inversely related to the shape of the production function
a. True
b. False
Indicate whether the statement is true or false
True
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When marginal revenue for a seller is more than marginal cost, the seller is
A) making a positive net revenue but not necessarily maximizing net revenue. B) maximizing net revenue and making a positive net revenue. C) maximizing net revenue even if net revenue is negative. D) not maximizing net revenue.
If the demand curve is perfectly inelastic, then an increase in supply will: a. increase both the price and the quantity exchanged
b. increase the price but result in no change in the quantity exchanged. c. increase the quantity exchanged but result in no change in the price. d. decrease the price but result in no change in the quantity exchanged.
The bundling of mortgages together and the issuing of securities for their financing made it possible for investment banks to
a. reduce their exposure to risk in the event that the overall mortgage default rate rose. b. reduce the amount of capital required to back these bundled securities. c. build up large reserves so they would be able to meet their obligations even if the mortgage default rate rose substantially. d. quickly access funds to meet short-term debt obligations.
Research by economists Bloom, Draca, and Van Reenen revealed that imports from China were associated with not only lower consumer goods prices, but also a ______________ cost of inputs for domestic firms, a(n) ______________ in the variety of products those domestic firms sold, and a(n) _______________ in U.S. productivity
A) lower; increase; increase B) higher; decrease; increase C) lower; increase; decrease D) higher; increase; decrease E) ?lower; decrease; decrease