A logarithmic variable cost function implies that
A) marginal cost is increasing at a decreasing rate.
B) marginal cost is increasing at an increasing rate.
C) marginal cost is constant.
D) marginal cost is decreasing as quantity increases.
A
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Refer to the table above. The trade balance of the country during that particular year was ________
A) $4,000 B) -$104,000 C) -$6,000 D) $50,000
Some of the newer pollutants that have appeared
a. are far more visible to the eye than older pollution. b. cause damage that is easily reversible. c. pose no significant long-term hazards. d. are far more dangerous than older forms of pollution.
Due to automatic stabilizers, when the nation's total income rises, government transfer spending:
A. Increases and tax revenues decrease B. Decreases and tax revenues increase C. And tax revenues decrease D. And tax revenues increase
What is a major characteristic of a natural monopoly?
A. The firm is a single seller of a resource B. Its sets price equal to marginal revenue C. There is extensive product advertising D. There is a large range for economies of scale