If a firm is experiencing economies of scale, then as the firm's output rises, its average total cost ________.
A. becomes negative
B. falls
C. rises
D. does not change
Answer: B
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If intended investment is $1 billion and unwanted inventory is $0, then we know that
a. all of the following statements are true b. saving = $0 c. consumption = $1 billion d. the economy will grow e. actual investment = $1 billion
Refer to the data provided in Table 9.4 below to answer the question(s) that follow. Table 9.4qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 11004014040 40 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.42Refer to Table 9.4. If the market price is $34 and the firm produces 4 units of output, then its profit would be
A. -$100. B. -$88. C. $0. D. $36.
In an English auction, ________ with each bid
A) the price of the good increases B) the price of the good decreases C) the quantity of the good being offered increases D) the quantity of the good being offered decreases
When oligopolists take into account their competitors' behavior, this situation is called:
a. mutual interdependence. b. monopolistic competition. c. independent. d. price discrimination. e. loss minimization.