Refer to the following graph.
This set of cost curves is:
A. wrong because the total cost and variable cost curves are reversed.
B. wrong because the total cost and variable cost curves are actually the average total cost and average variable cost curves.
C. wrong because the fixed cost curve is drawn incorrectly.
D. correct.
Answer: C
You might also like to view...
Transferring entries from a journal to the ledger is called ___
Fill in the blank(s) with correct word
A Big Mac costs $4.00 in the United States and 9.00 reals in Brazil. If the exchange rate is 2 reals per dollar, purchasing power parity predicts that
A) the dollar will depreciate as the supply of dollars rises in the long run. B) the dollar will appreciate in the long run as the demand for the dollars rises. C) the dollar will appreciate as the demand for dollars falls in the long run. D) the dollar will depreciate as the demand for dollars falls in the long run.
Keynesian economists argue that monetary policy works through its effects on:
a. interest rates and investment. b. price- and wage-flexibility. c. budget deficits and trade deficits. d. the spending and money multipliers.
Investment is a(n) ________ that changes the ________ of capital.
A. stock; flow B. flow; stock C. liability; asset D. asset; liability