The minimum points of the average variable cost and average total cost curves occur where
a. the marginal cost curve lies below the average variable cost and average total cost curves
b. the marginal cost curve intersects those curves
c. wages are the lowest
d. the slope of total cost is the smallest
e. the elasticity of demand is unitary
B
You might also like to view...
The United States does not use subsidies as part of its policies
Indicate whether the statement is true or false
A metal refining plant emits sulfur dioxide into the air and has decided to install air scrubbers to reduce the amount of pollution. Each scrubber costs $180,000 and the Environmental Protection Agency (EPA) fines the plant $5,000 for every part of pollution emitted per million. 
Based on the information above, the first air scrubber ________ (increases/decreases) the total cost of pollution by $________.
A. decreases, $250,000 B. increases, $530,000 C. decreases, $ 70,000 D. increases, $180,000 E. none of the above
For several years, the U.S. unemployment rate has been below the European unemployment rate. Offer a Keynesian explanation for this
What will be an ideal response?
If the Fed were to raise the required reserve ratio,
A) excess reserves would decrease. B) excess reserves would increase. C) there would be no effect on the level of excess reserves. D) there would tend to be no effect on the nation's money supply.