Refer to Table 13-3. What is its average variable cost of production at its optimal output level?
A) $0 (because its optimal output = 0 ) B) $15
C) $14.75 D) $29
C
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If the short-run Phillips curve shifts rightward, what happens to the tradeoff between inflation and unemployment? If the short-run Phillips curve shifts leftward, what happens to the tradeoff between inflation and unemployment?
What will be an ideal response?
The presence of ________ creates a difference in the value between the market price and the factor cost of a product
A) indirect taxes and consumption B) subsidies and direct taxes C) corporate profits and subsidies D) indirect taxes and subsidies
Which types of unemployment still occur even when the economy is considered to be operating at full employment?
What will be an ideal response?
A bank has $50,000 in excess reserves and the required reserve ratio is 10 percent. This means the bank could have __________ in checkable deposit liabilities and __________ in (total) reserves
A) $500,000; $90,000 B) $100,000; $20,000 C) $50,000; $25,000 D) $250,000; $75,000