If a firm wanted to know how much it would save by producing one less unit of output, it would look to:
A. MC.
B. ATC.
C. AVC.
D. AFC.
Answer: A
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Susan thinks the only fair outcome is one in which she has three slices of pizza a week. Susan is using a(n) ________ concept of fairness
A) "it's not fair if the result isn't fair" B) "it's not fair if the rules aren't fair" C) "big tradeoff" D) "Novak principle"
In recent cases, the U.S. placed quotas or protectionist tariffs on imported steel and imported microchips. In both cases the damage to "downstream" industries was obvious to all and relatively easy to quantify and demonstrate. Assuming that the
lawmakers are not plain dumb, why did they enact these protectionist policies?
A bank run involves a large inflow of money into commercial banks
a. True b. False Indicate whether the statement is true or false
Most economic disagreements are about ______ issues.
a. normative b. cognitive c. positive d. objective