A firm's total cost of production
a. always increases as it produces more output
b. can increase or decrease as it produces more output
c. increases at a decreasing rate as long as it produces more output
d. is fixed in the short run, because inputs are fixed in the short run
e. can be minimized by producing where the firm's demand curve crosses the horizontal axis
A
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Signaling is when someone takes action to:
A. reveal private information about someone else. B. reveal one's own private information. C. find out the opportunity cost of acquiring more information. D. None of these statements is true.
Comparing the cost of the same basket of goods in different locations:
A. can create a price index to evaluate purchasing power across different locations. B. is based on the theory of purchasing power parity. C. can be used for international price comparisons. D. All of these statements are true.
Economists generally consider the use of taxes as the most efficient way of solving pollution problems
a. True b. False Indicate whether the statement is true or false
The __________ serve to allocate financial resources among households and firms requiring funds.
Fill in the blank(s) with the appropriate word(s).