All of the following statements are correct, except that the firm has:
The following table shows the short-run total cost data for a firm.
A. Economies of scale
B. Fixed costs of $80
C. Constant marginal cost
D. An average fixed cost of $20 at 4 units of output
A. Economies of scale
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The assumption that firms meet the demand for their products at preset prices is the key assumption upon which ________ is built.
A. the supply and demand model B. the basic Keynesian model C. Say's Law D. quantity equation for money
Which of the following statements is true?
A) Eliminating its tariffs and quotas unilaterally would not benefit the United States because this would remove the leverage it would have to persuade other countries to eliminate their trade restrictions. B) Economic efficiency would be increased if the United States eliminated all of its trade restrictions, but only if all other countries eliminated their trade restrictions too. C) The U. S. economy would gain from the elimination of its tariffs but not from the elimination of its quotas. D) The U.S. economy would gain from the elimination of tariffs and quotas even if other countries do not reduce their tariffs and quotas.
The trench warfare case during World War I is an example of a(n)
A) tit-for-tat strategy. B) explicit agreement. C) non-cooperative Nash equilibrium. D) None of the above.
whoever does it the cheapest
What will be an ideal response?