If social regulation increases a firm's fixed and variable costs:
a. then both marginal cost and average total cost will increase, and the firm will produce more.
b. then both marginal cost and average total cost will increase, and the firm will produce less.
c. then both marginal cost and average total cost will decrease, and profits will increase.
d. then marginal cost will increase, average total cost will be constant, and price will decline.
e. then both price and quantity produced will fall.
b
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A computer software program is most strongly an example of
A) real property. B) fiat property. C) intellectual property. D) vicarious property.
A government-created monopoly arises when
a. government spending in a certain industry gives rise to monopoly power. b. the government exercises its market control by encouraging competition among sellers. c. the government gives a firm the exclusive right to sell some good or service. d. Both a and c are correct.
Which of the following would be likely to cause a nation's currency to depreciate?
What will be an ideal response?
Which of the following is the injection into the circular flow model?
A. Money deposited in a savings account B. Income earned through exports C. Goods imported from abroad D. Taxes paid by the individuals