Which of the following statements is false?
a. Profit is increasing when marginal revenue is greater than marginal cost.
b. Marginal cost is always decreasing.
c. Marginal and average total costs are equal at the most efficient production level.
d. The AFC and AVC curves cross.
e. The AFC and ATC curves do not cross.
D
You might also like to view...
If the Fed buys government bonds from the open market, it will cause:
A) a shift of the supply curve for reserves to the right. B) a shift of the supply curve for reserves to the left. C) a downward movement along the supply curve for reserves. D) an upward movement along the supply curve for reserves.
As the price of home heating oil rises, families buy less home heating oil. Hence a scatter diagram with the price of home heating oil on the vertical axis and the quantity purchased on the horizontal axis reveals a ________ relationshi
A) time-series B) linear C) negative D) positive E) cross-sectional
There is a shortage when price is _____ the equilibrium level.
Fill in the blank(s) with the appropriate word(s).
The price an economy pays for lower unemployment is ______.
a. higher inflation b. higher real wages c. declining stock values d. lower price volatility