Average variable cost equals
A) TC/Q.
B) TVC/Q.
C) TFC/Q.
D) change in total cost/change in output.
Answer: B
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Recall the Application. The Fed's goal of this policy was to ________ the prices of government bonds and mortgage securities and ________ the interest rates on both bonds and mortgages
A) increase; decrease B) decrease; decrease C) decrease; increase D) increase; increase
Carolyn knows average total cost and average variable cost for a given level of output. Which of the following costs can she not determine given this information?
A) total cost B) average fixed cost C) fixed cost D) variable cost E) Carolyn can determine all of the above costs given the information provided.
How does rent control tend to cause persistent imbalances in the market for housing?
a. Quantity demanded exceeds quantity supplied but price cannot rise to remove the shortage. b. Quantity demanded exceeds quantity supplied but price cannot fall to remove the surplus. c. Quantity supplied exceeds quantity demanded but price cannot rise to remove the shortage. d. Quantity supplied exceeds quantity demanded but price cannot fall to remove the surplus.
Most foreign direct investment is in
A. the mining and extraction sector. B. the manufacturing sector. C. the agricultural sector. D. the service sector.