Which always increase(s) as output increases?
A) Marginal Cost only
B) Fixed Cost only
C) Total Cost only
D) Variable Cost only
E) Total Cost and Variable Cost
E
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The above table shows the demand schedule and supply schedule for chocolate chip cookies. An increase in income results in an increase in the demand for chocolate cookies by an amount of 3 pounds at every price
What are the new equilibrium quantity and equilibrium price? A) 5 pounds, $4.00 per pound B) 5 pounds, $6.00 per pound C) 5 pounds, $5.00 per pound D) 4 pounds, $5.00 per pound
The structural deficit can be used to estimate the thrust of current fiscal policy.
Answer the following statement true (T) or false (F)
A ptomaine poisoning scare causes a decrease in the demand for canned tuna fish. Everything else equal, the demand curve for aluminum cans will
a. become steeper. b. become flatter. c. fall. d. rise.
According to the Phillips curve, unemployment and inflation are positively related in
a. the short run and in the long run. b. the short run, but not in the long run. c. the long run, but not in the short run. d. neither the long run nor the short run.