If you are currently producing at a level where average fixed cost and average variable cost are the same, your average total cost has been minimized
Indicate whether the statement is true or false
F
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With a given income and prices of goods, Marcus will be in a consumer equilibrium if ________
A) his marginal utility from all goods is the same B) he purchases the same amounts of all goods C) he maximizes his total utility D) his marginal utility from all goods is at its maximum
Who helps calculate GDP in the United States?
A) the Bureau of Economic Analysis B) the Census Bureau C) the Bureau of Labor Statistics D) all of the above E) none of the above
Suppose the cost of producing cellular phones declines from $25 to $20 . If buyers' valuations remain fixed at $30, the transaction would create _____ more economic value
a. $10 b. $5 c. $2 d. $15
An increase in the price of cotton will increase the equilibrium price and decrease the equilibrium quantity in the market for cotton t-shirts
a. True b. False Indicate whether the statement is true or false