At an output at which MC is greater than ATC
A. the ATC curve is upward sloping.
B. the AVC curve is downward sloping.
C. the ATC curve is downward sloping.
D. the AFC curve is upward sloping.
Answer: A
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A multi-plant firm has three plants. At its current production levels, the marginal cost of production is $1.50 at plant 1, $1.50 at plant 2, and $1.50 at plant 3. The firm's overall marginal cost of production is ________.
A) $7.50 B) $1.50 C) $4.50 D) $3.00
Which of the following exchange rate systems have a legislative commitment to exchange domestic currency for a specified foreign currency at a fixed exchange rate?
a. Gold standard b. Gold exchange standard c. Crawling band d. Horizontal band e. Currency board
Profits are part of the
A. total income. B. final consumer goods. C. factor services. D. monetary value of output.
"Similar to imports, U.S. exports depend on the level of U.S. real GDP so that if real GDP increases, U.S. exports increase." Explain whether the previous sentence is correct or incorrect
What will be an ideal response?