Which curve(s) does the marginal cost curve intersect at the (their) minimum point?
A. Average total cost curve and average variable cost curve
B. Average variable cost curve
C. Average total cost curve
D. Average fixed cost curve
Answer: A
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Assume the population growth rate is 2 percent and the real GDP growth rate is 5 percent. The change in standard of living, as measured by the growth rate in real GDP per person, is
A) 7 percent. B) 2.5 percent. C) 5 percent. D) 3 percent. E) -3 percent.
If the price of flash memory cards increases, then there will be ________ of flash memory cards
A) a decrease in the supply B) an increase in the supply C) an increase in the quantity supplied D) a decrease in the quantity supplied
The percentage of total expenditure spent on a specific product is called
A. A budget. B. Core inflation. C. A market basket. D. The item weight.
Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If six microwave ovens are produced, Micro Oven's total fixed costs are
A. $50. B. $100. C. $300. D. indeterminate from this information.