As output increases, average fixed costs
A. increase.
B. initially decrease and then increase.
C. remain constant.
D. decrease.
Answer: D
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Define marginal benefit. Explain how it is measured and why the data in the table does not enable you to calculate Brazil's marginal benefit from food
What will be an ideal response?
If more and more labor is employed while keeping all other inputs constant, the marginal physical productivity of labor will eventually:
a. increase. b. decrease. c. remain constant. d. cannot tell from the information provided.
The CPI is a measure of the overall cost of the goods and services bought by a typical consumer
a. True b. False Indicate whether the statement is true or false
The president of Tucker Motors says, "Lowering the price won't sell a single additional Tucker car." The president believes that the price elasticity of demand is:
a. perfectly elastic. b. elastic. c. perfectly inelastic. d. unitary elastic.