The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the average total cost?
A) 500
B) 5Q
C) 5
D) 5 + (200/Q)
E) none of the above
D
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Monetarists argue that government deficits financed by monetary expansion cause(s)
A) velocity to increase. B) aggregate demand to increase. C) aggregate demand to decrease. D) no change in aggregate demand or aggregate supply.
Distinguishing between stock measures and flow measures, the flow measures are
A) the labor force only. B) the number of people who lost their jobs and the number of people who found jobs only. C) the total number of people who are unemployed only. D) the total number in the labor force and the total number of people who are unemployed only.
In the above figure, the curve that represents the most income equality is
A) a. B) b. C) c. D) d.
Total profit is maximized
a. where the difference between total revenue and total cost is greatest. b. at that output level where marginal revenue equals average cost. c. where total revenue is at a maximum. d. at the point where all variable costs are covered.