At its minimum point, the average-total-cost curve is intersected by the:
a. average fixed cost curve.
b. average variable cost curve.
c. total fixed cost curve.
d. total variable cost curve.
e. marginal cost curve.
e
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Gross private domestic investment is all purchases of newly produced business capital goods and buildings
A) minus the change in business inventories. B) plus the change in business inventories plus residential construction. C) plus fixed investment minus inventory investment. D) plus purchases of capital goods produced in previous years to replace any depreciated capital goods.
Suppose seller X is willing to sell one good X for $5, a second good X for $10, a third for $16, a fourth for $25, and the market price is $20 . What is seller X's producer surplus?
a. $15 b. $20 c. $22 d. $29
If the number of unemployed is greater than the number of employed, the unemployment rate is
A. over 100%. B. more than 50%. C. less than 50%. D. None of the choices are correct.
Which of the following is an illustration of the law of increasing opportunity costs?
What will be an ideal response?