Marginal cost is equal to average variable cost when average variable cost is
A. at its maximum.
B. equal to total variable cost.
C. zero.
D. at its minimum.
Answer: D
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If the price of hairspray is represented by P in the equation P = 10 - 0.2 QD, then the corresponding quantity of hairspray demanded is represented by the demand equation
A) QD = 50 -5P. B) QD = -10 + 0.2P. C) QD = 0.5P + 2. D) QD = 5P - 2.
The formula for the multiplier can be written as change in
A. Y/change in I. B. I/change in Y. C. Y/change in C. D. Y/change in GDP.
Which of the following is a way the government can stimulate saving?
A. Decrease interest rates B. Increase taxes C. Offering tax incentives for retirement accounts D. There is nothing the government can do to stimulate saving.
An interest rate is an example of a rate of __________.
a. inflation b. frequency c. return d. employment