In the above figure, the intersection of curves A and B is the point at which
A) average total cost is minimized.
B) average variable cost is minimized.
C) average fixed cost is minimized.
D) total product is maximized.
A
You might also like to view...
The figure above shows the market supply and market demand for pizza
a) What is the efficient quantity of pizzas? b) If 70,000 pizzas are produced, what area represents the deadweight loss? c) Why does the deadweight loss in part (b) occur? d) If 20,000 pizzas are produced, what area represents the deadweight loss? e) Why does the deadweight loss in part (d) occur?
In the long run, if the prices of goods and services are higher than before the aggregate quantity:
A. supplied will be higher. B. demanded will be lower. C. supplied will not change. D. demanded will be higher.
The consumption function is a function showing the relationship between consumption and
A) disposable income. B) exports. C) interest rates. D) investment.
A monthly growth rate of 0.5% is an annual growth rate of:
A. 6.50% B. 6.17% C. 5.00% D. 6.00%