The marginal cost curve intersects the average variable cost curve at the ________ value of the average variable cost curve.
A. average
B. minimum
C. zero
D. maximum
Answer: B
You might also like to view...
The lack of a long-run tradeoff between the unemployment rate and the inflation rate means the long-run Phillips curve is
A) horizontal. B) vertical. C) upward sloping. D) downward sloping. E) U-shaped, with higher inflation initially decreasing unemployment and then increasing it back to the natural unemployment rate.
Which of the following constitutes a mixed strategy Nash equilibrium of the Odds and Evens game?
A) Play Even and Odd with 50% probability each. B) Play Even with 75% probability and Odd with 25% probability. C) Always play Even. D) This game has no mixed strategy Nash equilibrium.
At the current price of a good, Al's consumer surplus equals eight, and Ben's consumer surplus equals 15. By charging a two-part tariff, a monopolist could increase his profit by
A) 8. B) 16. C) 15. D) 30.
In the open-economy macroeconomic model, if investment demand increases, then
a. net exports and the real exchange rate rise. b. net exports rise and the real exchange rate falls. c. net exports fall and the real exchange rate rises. d. net exports and the real exchange rate fall.