The marginal cost will intersect the average variable cost curve
A) when the average variable cost curve is rising.
B) where average variable cost curve equals price.
C) at the minimum point of the average variable cost curve.
D) The two will never intersect.
C
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Why does gold, which is a relatively nonessential item, have a higher price than water, which is essential to life?
What will be an ideal response?
When a firm uses a form of quantity discrimination it is the high quantity purchasers that generate most profit
Indicate whether the statement is true or false
In the United States, before OPEC increased the price of crude oil in 1973, there was
a. no price ceiling on gasoline. b. a nonbinding price ceiling on gasoline. c. a binding price ceiling on gasoline. d. a nonbinding price floor on gasoline.
Assets are:
A. stocks, bonds, and credit card balances. B. anything of value one owns. C. current income minus spending on current needs. D. saving minus investment.