Short-run average cost is
A. less than short-run marginal cost when short-run marginal cost is decreasing.
B. always greater than long-run average cost.
C. always less than long-run average cost.
D. both a and c
E. none of the above
Answer: E
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A) Decrease in demand. B) Decrease in supply. C) Increase in demand. D) Increase in supply
The broadly-defined money supply in the U.S., called M2, differs from M1 primarily in its inclusion of
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Vertical integration may be motivated by all of the following except:
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The time span between recognition of the need for a policy change and the legislation being signed into a law is known as: a. signal lag
b. implementation lag. c. impact lag. d. recognition lag.