There are outputs for which ________ costs exceed ________ costs in the short run.
A) total fixed; total
B) average variable; average total
C) total variable; total
D) average total; average variable
D) average total; average variable
You might also like to view...
Refer to Table 7-4. Fill in the following table with the opportunity costs of producing light bulbs and flash drives for Mexico and Canada
Light Bulbs Flash Drives Mexico Canada What will be an ideal response?
Describe the three types of unemployment?
What will be an ideal response?
Key determinants of economic profit include ________
A) the revenue from selling goods and services B) the cost incurred in buying capital C) the cost of hiring labor D) all of the above E) none of the above
A bank's assets consist of $500,000 in total reserves, $1,600,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $2,000,000 in demand deposits and $1,300,000 in capital. If the required reserve ratio is 25 percent, what is the level of the bank's excess reserves? How much could it loan out as a result?
a. zero; zero b. $500,000; $500,000 c. $500,000; $2,000,000 d. $250,000; $1,000,000