If you know that total fixed cost is $200, total variable cost is $600, and total product is 4 units, then average total cost must be:
A. $200
B. $250
C. $800
D. $3200
A. $200
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The key official definition of the money supply is
A) only coins and paper currency in circulation. B) M2. C) only transactions deposits at banks. D) MZM.
When is a collusive agreement between two firms likely to break down?
What will be an ideal response?
A decline in demand in a competitive industry will result in
a. a decrease in equilibrium price b. a decline in the number of firms in the industry c. economic losses for some firms in the industry d. a decline in the equilibrium quantity e. all of the above
If the fluctuations in the economy's real growth rate from year to year are caused primarily by variations in the rate at which aggregate demand increases, then data would show
a. a cyclical relationship between inflation and unemployment. b. a direct relationship between inflation and unemployment. c. an inverse relationship between inflation and unemployment. d. no relationship between inflation and unemployment.