Which of the following conditions best explain the short-run economies of operation associated with production of an information product?
A) AVC slopes downward, and AFC is constant, so that ATC slopes downward.
B) AVC is constant, and AFC slopes downward, so that ATC slopes downward.
C) AFC is constant, and MC slopes downward, so that AVC slopes downward.
D) MC is constant, and MC slopes upward, so that AVC slopes upward.
B
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The monetarists believed that
A. the way to fight recessions was by means of fiscal policy. B. the quantity theory of money has a great deal of validity. C. recessions generally come about because the Federal Reserve is not allowing the money supply to grow fast enough. D. the money supply should be allowed to grow at least 8 percent a year.
A business owned by a single person
What will be an ideal response?
The Five Forces Model helps illustrate the five competitive forces that determine the ________ in an industry.
A. level of competition and profitability B. profitability and degree of product differentiation C. price and quality of output D. level of R&D and price of output
The principle of vertical equity is satisfied when _____
a. individuals with a greater ability to pay have higher taxes than individuals with a lower ability to pay b. individuals receiving higher benefits from a government program pay higher taxes than those receiving lower benefits c. taxes increase as family size increases d. taxes on higher income individuals are more efficient than the taxes on lower income individuals