Which statement is true?
A. The minimum point on the firm's marginal cost curve is the shutdown point.
B. The minimum point on the firm's marginal cost curve is the break-even point.
C. The minimum point on the firm's average variable cost curve is the shutdown point.
D. The minimum point on the firm's average total cost curve is the shutdown point.
C. The minimum point on the firm's average variable cost curve is the shutdown point.
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Some governments have adopted statutes that require, under certain circumstances, payment greater than fair market value be paid to property owners for property seized through eminent domain
Indicate whether the statement is true or false
Which of the following is a simplifying assumption associated with the short-run Keynesian model of equilibrium real Gross Domestic Product (GDP) determination?
A) Gross private domestic investment exceeds net private domestic investment. B) Most business profits are distributed to shareholders. C) Businesses pay indirect taxes. D) There is no depreciation.
The CPI in 1974 equaled 0.49. The CPI in 1975 equaled 0.54. The rate of inflation between 1974 and 1975 was ________ percent.
A. 5.0 B. 5.4 C. 10.2 D. 9.3
Refer to the figure below.
If a price ceiling were imposed at point G, the consumer surplus would be represented by the area ________.
A. BAEH B. BJEH C. JAE D. GAEF