If a firm produces 10 units, TC=$100 . When the firm increase its output to 15 units, TC= $150 . The firm's AVC equal to
a. $50
b. $100
c. $5
d. $10
d
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Which of the following increases money demand?
A) Disruptions in the banking system. B) The introduction of online banking. C) The wider availability of ATMs. D) The introduction of deposit insurance.
Which of the following is an example of an externality?
a. cigarette smoke that permeates an entire restaurant b. a flu shot that prevents a student from transmitting the virus c. a beautiful flower garden outside the county courthouse d. All of the above are examples of externalities.
Between 1960 and 2012, the share of federal spending allocated to national defense
a. declined sharply, while the share allocated to health care increased substantially. b. rose sharply, while the share allocated to health care declined substantially. c. was relatively constant, while the share allocated to health care declined modestly. d. declined modestly, while the share allocated to health care was relatively constant.
Refer to the above figure. A long-run equilibrium in monopolistic competition is pictured by
A. Panel A. B. Panel B. C. Panel C. D. Panel D.