At an output at which ATC is greater than MC
A. the AFC curve is upward sloping.
B. the AVC curve is upward sloping.
C. the ATC curve is upward sloping.
D. the ATC curve is downward sloping.
Answer: D
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In the presence of asymmetric information, high-cost and low-cost customers are charged ?asymmetric prices.
Answer the following statement true (T) or false (F)
As a unit of account, money is used to
A) state prices of all goods and services. B) pay off future debts. C) hold purchasing power over time. D) exchange for goods and services.
Which of the following Fed actions would both decrease the money supply?
a. buy bonds and raise the reserve requirement b. buy bonds and lower the reserve requirement c. sell bonds and raise the reserve requirement d. sell bonds and lower the reserve requirement
A key idea of the new growth theory is that
A. technology is not an important determinant of economic growth. B. the rewards associated with technological advances have little to do with the actual rate of invention or innovation. C. economic growth is not as important as leisure time growth. D. the greater the rewards for technological advances, the greater the number of technological advances.