The firm's short run supply curve is equal to the
A) entire marginal cost curve.
B) marginal cost curve above the AVC curve.
C) marginal cost curve above the ATC curve.
D) marginal cost curve above the AFC curve.
B
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Which of the following facilitates the movement of checks across the country?
a. Board of Governors b. Treasury Department c. Federal Open Market Committee d. Federal Reserve Banks e. Department of Commerce
Which of the following is an example of an automatic stabilizer?
A. The reduction in the money supply that occurs as banks become less willing to make loans during a recession B. The reduction in real wages that occurs as the economy goes into a recession C. The increase in government spending that occurs as the result of new spending bills passed by Congress D. The rise in tax revenue that occurs as a result of growth in real GDP
What happened in response to passage of the Wagner Act in 1935?
a. Many formerly unionized industries saw a decrease in union activities. b. Unions formed in most of the mass production industries for the first time. c. Labor unions were prohibited from controlling hiring at closed shops. d. Worker alienation and dissatisfaction grew in deregulated industries.
A perfectly competitive firm's short-run break-even output occurs
A) at the minimum point of its average variable cost curve. B) at the minimum point of its average total cost curve. C) at the minimum point of its marginal cost curve. D) at the intersection of its total cost curve and its marginal revenue curve.