The distance between the TC and the TVC curve
A. increases as output increases.
B. decreases as output increases.
C. is constant.
D. is the MC curve.
Answer: C
You might also like to view...
When a deadweight loss occurs in a market, we can be certain that
A) taxes have been imposed in a market. B) the market is a monopoly. C) there underproduction in the market. D) the entire society experiences a loss.
Social Security contributions are
A) a voluntary dollar amount that people contribute towards Social Security. B) entirely paid by your employer. C) mandatory taxes partially paid out of workers' wages and salaries. D) collected only from people earning more than $120,000 a year.
What determines a country's limits to acceptable terms of trade?
A. Their opportunity costs in production. B. Whether they possess the absolute advantage in the production of a good. C. How much a country likes a good for which they are trading. D. When a country has a comparative advantage in production of both goods.
In the market for insurance, the moral hazard problem leads: a. those most likely to collect on insurance to buy it
b. those who buy insurance to take fewer precautions to avoid the insured risk. c. those with less insurance to take on more risk. d. to none of the above.