The total fixed cost function
A. is U-shaped.
B. is a downward sloping line.
C. is an upward sloping line.
D. is horizontal.
Answer: D
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Savings is an important factor influencing economic growth because saving
A) can finance new investment and capital formation. B) helps the economy maintain the current level of total expenditures when a recession begins. C) provides a fund for wages needed from any unexpected population growth. D) All of the above answers are correct.
During the first 6 months of 2008, the United States imported more than 1.6 billion pounds of coffee. Suppose the United States is considering placing trade restrictions on the importation of coffee
What would be a potential consequence of such a trade restriction? A) The U.S. price of coffee would increase. B) U.S. consumers would drink more coffee. C) The quantity of coffee imported into the United States would increase. D) U.S. consumer surplus from coffee would increase.
Releasing more information, in a common-value auction is
a. Good for the bidders because it reduces the risk that they face b. Good for the auctioneer because it attracts more bidders c. Good for the bidders because they are less likely to bid more on the item than it's worth d. Both A&B
Economists use the phrase, "dollar bills left on the sidewalk" for describing systematically missed opportunities
Indicate whether the statement is true or false