Total variable costs ________ with decreasing output.
A. always decrease
B. initially decrease and then increase
C. initially increase and then decrease
D. always increase
Answer: A
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The figure above shows the price of a DVD player from 2003 to 2007
a) What type of graph is illustrated above? b) What is the trend in the price of a DVD player?
What are some of the problems with using the leading indicators to forecast recessions? If you were a policymaker, would you rely on them?
What will be an ideal response?
In the long run, firms in a perfectly competitive market will:
A. earn positive economic profits. B. exit if the price is lower than their lowest average total cost. C. attract other firms to the market if the price is equal to their lowest average total cost. D. not attract other firms if they are earning slightly positive economic profits.
The adult population must equal the sum of the employed, the unemployed, and those not in the labor force
a. True b. False Indicate whether the statement is true or false