At all levels of production higher than the point where the marginal cost curve crosses the average variable cost curve, average variable cost
a. rises.
b. remains unaffected.
c. falls.
d. All of the above are possible depending on the shape of the marginal cost curve.
a
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The inefficiency for collective consumption goods stems from the fact that _____
a. the total cost of the good is too high b. the marginal cost of the good is zero c. the total cost of the good is zero d. the good cannot be priced because it is too easy to steal
A counterfactual is
A. what happens when there are no facts. B. what would have happened if the treatment group had not received the treatment. C. a legal term describing the process of proving that a negative is the actual truth. D. none of these answer options are correct.
The XYZ Computer Company has a monopoly over the production of a specialized color printer. The XYZ Computer Company will find it profitable to increase the production of specialized color printers as long as marginal cost
A. is greater than marginal revenue. B. equals marginal revenue. C. is less than marginal revenue. D. is positive.
In the Solow model, which of the following is an exogenous variable?
A) productivity B) the capital-labor ratio C) consumption per worker D) investment per worker