________: level of output at which average total costs equal average revenue or market price
Fill in the blank(s) with correct word
Breakeven output
You might also like to view...
When part of a bank loan does not return to the banking system but rather remains outside the banking system as currency, then the money multiplier ________ in size and the amount of money created by an open market operation ________
A) increases; decreases B) does not change; increases C) decreases; decreases D) increases; increases E) decreases; does not change
Two duopoly firms form a cartel. They decide to collude and fix the price of their good. Each individual firm will earn the highest profit if
A) it cheats and the other sticks with the agreement. B) both stick with the agreement. C) it sticks with the agreement and the other cheats. D) they both cheat.
As the price of good X increases from $5 to $8, quantity demanded falls from 100 to 80. Based upon this information we can conclude that the demand for X is
A) elastic. B) inelastic. C) unit inelastic. D) insufficient information for judgment.
In terms of the impact on aggregate expenditure of alternative methods of raising additional revenue for government spending,
a. borrowing from banks is more effective than taxation, which is more effective than borrowing from the public. b. taxation is more effective than borrowing from the public, which is more effective than borrowing from banks. c. borrowing from banks is more effective than borrowing from the public, which is more effective than taxation. d. borrowing from the public is more effective than borrowing from the banks, which is more effective than taxation.