Suppose that when output is 20, marginal cost is $20, and average total cost is $30. Then which of the following is most likely to be true?
A. Average total cost is declining.
B. Average total cost is constant.
C. Average total cost is rising.
D. Average total cost is less than average fixed cost.
Answer: A
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Price fixing is illegal under the Sherman Act and subsequent legislation.
Answer the following statement true (T) or false (F)
An online dating firm is
A) a platform in a shared-input market. B) an end user in a matchmaking market. C) a platform in a matchmaking market. D) an end user in a shared-input market.
Economic Fact
What will be an ideal response?
Which of the following factors would economists consider "key" to economic development?
A) policies that promote consumption expenditures by households B) establishing a system of property rights C) expansionary monetary policy D) All of the above are correct.