Pick the economic variable that is countercyclical
a. Wages
b. Investment
c. Government transfer payments
d. Nominal interest rates
e. All of the above are countercyclical variables
.C
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Price discrimination only occurs under monopoly.
Answer the following statement true (T) or false (F)
If both the marginal cost and the average variable cost curves are U-shaped. At the minimum point on the average variable cost curve, the marginal cost must be:
a. greater than the average variable cost. b. less than the average variable cost. c. equal to the average variable cost. d. at its minimum.
Refer to Table 8.1. Assume the wage rate is $10 and the firm has $1,000 in unavoidable fixed cost. What is the marginal cost of the 83rd unit of output?
A. $0.50
B. $0.56
C. $1.00
D. $1.43
Both the marginal cost and the average variable cost curves are U-shaped. At the minimum point on the average variable cost curve, the marginal cost must be:
A. greater than the average variable cost. B. less than the average variable cost. C. equal to the average variable cost. D. at its minimum.