Average variable cost is at a minimum when ______
A. marginal cost equals average variable cost
B. average total cost is at a minimum
C. marginal cost exceeds average fixed cost
D. average total cost exceeds average variable cost
A Figure 10.6 in the textbook shows that A is the correct answer.
You might also like to view...
Refer to the figure below. Player B can infer that Player A will: 
A. always choose Up. B. always choose Down. C. choose Up when B chooses Left and choose Down when B chooses Right. D. choose Down when B chooses Left and choose Up when B chooses Right.
Organic food might be good for your health but in light of the 2008 downturn in the economy and falling incomes, consumers are buying less organic and more non-organic food. Based on these events, what is TRUE?
A) Organic food is a normal good and non-organic food is an inferior good. B) Organic food is an inferior good and non-organic food is a normal good. C) Organic food is a normal good and non-organic food is a normal good. D) Organic food is an inferior good and non-organic food is an inferior good.
In low-income LDCs, per capita income is typically _______ and per capita growth rate is ________
a. between $100 and $500 per year; negative or less than 2 percent per year b. between $1000 and $5000 per year; 2 to 10 percent per year c. between $10,000 and $50,000 per year; typically negative d. between $1 and $50 per year; negative e. between $0 and $100 per year; negative
Suppose a drought in australia has seriously impaired agricultural productivity. how would that impairment in productivity affect short-run aggregate supply?