Which of the following statements is correct?

A. Average variable cost reaches its minimum when average product equals its maximum.
B. Average fixed costs are constant.
C. Average variable costs always exceed average total costs.
D. Average fixed costs are always less than average variable costs.


Answer: A

Economics

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Which statement best describes the growth rate of adult male real wages between 1820-1860 in the U.S.?

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The outcome of the Stackelberg model is

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A consumer possesses five pounds of bananas and values their total utility at $2.14. If one additional pound is acquired and marginal utility is 11 cents, total utility will

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Economics