The vertical distance between the average variable cost and average total cost curves
A. decreases as quantity increases.
B. is everywhere equal to total fixed costs.
C. increases at a decreasing rate.
D. is everywhere equal to marginal cost.
Answer: A
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The U.S. federal government collects about
a. one-third of the taxes in our economy. b. one-half of the taxes in our economy. c. two-thirds of the taxes in our economy. d. three-fourths of the taxes in our economy.
An increase in the availability of health insurance could be expected to cause the average price of health care to increase
Indicate whether the statement is true or false
Refer to the table below. If Stuffed Pies is currently producing 13 units of quality, to maximize profit, Stuffed Pies should ________ the units of quality.
Stuffed Pies is a frozen calzone manufacturer. The table above summarizes Stuffed Pies' marginal revenue and marginal cost of quality at various quality amounts.
A) not change
B) increase by 50 percent
C) decrease
D) increase
People tend to wait until deadlines get close to work on projects in part because they believe that they can complete the projects in less time than it will actually take. Which findings from behavioral economics is this observation consistent with?
a. People tend to be time inconsistent and people tend to be overconfident. b. People tend to be time inconsistent but not that people tend to be overconfident. c. People tend to be overconfident, but not that people tend to be time inconsistent. d. Neither that people tend to be overconfident nor that people tend to be time inconsistent.