Break-even quantity is a point where
a. Level of profit is maximized
b. Level of cost is minimized
c. Only variable costs are covered
d. There is neither a profit nor a loss
d
You might also like to view...
Gross domestic product (GDP) does not include:
a. used goods sold in the current time period. b. foreign produced goods. c. intermediate as well as final goods. d. None of these would be included.
Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
If a country can produce cars with a lower opportunity cost than its trading partners, then it must have a:
A. Low market price for cars. B. Comparative advantage in cars. C. A trade deficit. D. A trade surplus.
The law of diminishing returns describes the:
A. relationship between resource inputs and product outputs in the short run. B. positive relationship between resource inputs and product outputs in the long run. C. relationship between total costs and total revenues. D. profit-maximizing position of a firm.