In the short run, AFC is always greater than
a. ATC
b. AVC
c. MC
d. Zero
d
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Economies where some production decisions are made by the government and some are made by buyers and sellers are called
A) command economies. B) market economies. C) mixed economies. D) capitalist economies.
A firm’s price is
A. greater than average revenue. B. greater than marginal revenue. C. less than marginal cost. D. equal to average revenue.
In the late 1800s, the Goodyear welt process vastly increased productivity in the ______ industry
a. steel b. boot and shoe c. tire d. cotton textiles
Which of the following is correct?
a. Keynesians believe there is a direct link between changes in a nation's money supply and changes in expenditures. b. Monetarists believe there is no short-term link between changes in a nation's money supply and changes in expenditures. c. Keynesians believe there is no short-term link between changes in a nation's money supply and changes in expenditures. d. Keynesians believe there is an indirect link between changes in a nation's money supply and changes in expenditures. e. None of the above.