In the above figure, the line represented by the "4" is the
A) average fixed cost.
B) marginal revenue.
C) average total cost.
D) marginal cost.
D
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Hiring foreign labor and producing in other countries is an example of offshoring
Indicate whether the statement is true or false
A rent ceiling set above the equilibrium rent efficiently allocates resources in the housing market
Indicate whether the statement is true or false
A falling average cost implies that
a. marginal cost is above average cost b. marginal cost is below average cost c. marginal cost is equal to average cost d. none of the above
Which of the following best describes the production function?
(a) TP = (Land, Labour, Capital, Savings). (b) TP = f (Land, Labour, Capital, Savings). (c) TP = (Land, Labour, Capital, Enterprise). (d) TP = f (Land, Labour, Capital, Enterprise).