Which of the following is the correct way to calculate total cost?
A. TVC - TFC
B. ATC × q
C. TFC × TVC
D. TR - TVC
Answer: B
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10% of the total food grains produced in a country during a year got damaged due to poor storage. Which of the following will happen in this case?
A) Imports will fall. B) Trade surplus will increase. C) GDP will remain unchanged. D) GDP will decrease.
"Aggregate planned expenditure is the sum of planned consumption expenditure, investment, government expenditures on goods and services, and exports minus imports." Is the previous statement correct or incorrect?
What will be an ideal response?
Perfect competition implies that
A) there are many firms in the market. B) all firms are price takers. C) all firms are producing the same identical product. D) All of the above answers are correct.
Describe how the market demand curve for private goods is developed. Describe how the societal demand curve for public goods is developed. Explain why each curve is developed the way it is
What will be an ideal response?