Average variable cost equals
A) fixed cost divided by output.
B) total variable cost divided by output.
C) marginal cost divided by output.
D) marginal cost plus fixed cost.
E) marginal cost multiplied by output.
B
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The social interest theory of regulation assumes that
A) regulations favor voters over producers. B) regulations promote the attainment of competitive output. C) public officials seek to keep their jobs. D) public officials favor consumers over producers.
The imposition of a tariff on imported wine will increase the domestic price of wine, decrease the quantity of wine imported, and increase the quantity of wine produced domestically
a. True b. False Indicate whether the statement is true or false
In a free market economy, current consumption, saving and investment decisions
What will be an ideal response?
Which of the following examples, ceteris paribus, would lead to a change in consumption that would shift that nation’s aggregate demand curve?
a. Youths in Canada increase their student loan debt. b. The Italian government purchases a dozen U.S.-made satellites. c. The U.S. government lowers taxes on businesses. d. Farmers in Ecuador increase their production of plantains.