The break-even price for a perfectly competitive firm is the price that is equal to
A) AVC.
B) ATC.
C) MC.
D) MR
B
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As Goldilocks consumes more gummy bears, her total utility ________ and her marginal utility from gummy bears ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
In the goods market:
A. businesses produce goods and services and sells them to households and government. B. government produces goods and services and supplies them to households and businesses. C. households supply factors of production to businesses and are paid by businesses for doing so. D. households supply goods to businesses and are paid by businesses for doing so.
Total fixed cost is
A. the expenditure on imported raw materials. B. the cost of buying and installing new machinery. C. the wages paid to consultants. D. the cost that does not change as output changes.
The decrease in gasoline price volatility in 2015 and 2016 was a result of
A. decreased demand elasticity. B. decreased supply elasticity. C. increased supply elasticity. D. decreased energy usage.