Which of the following observations is true?
A. TFC remains the same irrespective of units of output produced.
B. TVC remains the same irrespective of units of output produced.
C. TVC falls as the unit of output increases.
D. AFC increases as output increases further and further.
Answer: A
You might also like to view...
A trade imbalance occurs when:
A. the quantity of imports equals the quantity of exports, but are large relative to total output. B. a country does not import or export any goods or services. C. exports from and imports to a country suddenly decline. D. the quantity of a country's exports differs significantly from the quantity of imports.
Use the following graph to answer the next question.
When output increases from Q1 and the price level decreases from P1, this change will ________.
A. be caused by a shift in the aggregate supply curve from AS1 to AS2 B. result in a movement along the aggregate demand curve from e3 to e1 C. result in a movement along the aggregate demand curve from e1 to e2 D. be caused by a shift in the aggregate supply curve from AS1 to AS3
Sue owns a baking company. The company's total revenue for a month is $4000. The monthly costs of resources bought in the market and of resources owned by the firm are $2000 and monthly costs of resources supplied by the owner are $1000
Sue's economic profit for the month is equal to A) $4000. B) $3000. C) $2000. D) $1000.
If protective import-restricting tariff are imposed by a country, in the majority of cases that nation's consumers end up
A) paying a lower price and consuming more of the good than they otherwise would. B) paying a lower price and consuming less of the good than they otherwise would. C) paying a higher price and consuming less of the good than they otherwise would. D) paying a higher price and consuming more of the good than they otherwise would.