The minimum efficient scale is the output at which the long-run average cost curve becomes horizontal.
Answer the following statement true (T) or false (F)
False
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At the Bretton Woods conference, all currencies were given
A) a fixed value. B) a zero value. C) a par value. D) a floating value.
The threat of a large fine for failure to pay income taxes is an example of
A) the excessive power of the Internal Revenue Service. B) the ineffectiveness of incentives to get people to pay their taxes. C) a negative incentive to get all people to pay taxes. D) people failing to consider all the benefits the government provides them.
Marginal revenue is the change in total revenue from using one more unit of an input in the short run
a. True b. False
A sharp increase in gasoline prices will cause the supply curve for trucking services to shift to the right
a. True b. False Indicate whether the statement is true or false