Given the exit rule, where does a firm's long-run supply curve derive from? It is the section of the:
A. ATC curve to the right of its minimum.
B. MC curve that lies above the ATC curve.
C. MC curve that lies above the AVC curve.
D. AVC curve to the right of its minimum.
B. MC curve that lies above the ATC curve.
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Which of the following is a liability to a bank?
A) total reserves B) transaction deposits C) government securities D) loans
When the central bank of some country prints large quantities of money, that county's currency loses value both in terms of the goods and services it buys and in terms of the amount of foreign currencies it can buy
a. True b. False Indicate whether the statement is true or false
Average variable costs equal
A) total variable costs divided by marginal costs. B) total variable costs divided by output. C) the change in marginal costs from producing another unit of output. D) output divided by the change in total costs.
In making decisions about what to consume, a person's goal is to
A) allocate her limited income among all the products she wishes to buy so that she receives the highest total utility. B) buy low-priced goods rather than high-priced goods. C) maximize her marginal utility from the goods and services she wishes to buy using her limited income. D) consume as many necessities as possible and then, if there is money left over, to buy luxuries.