The amount of output a firm can produce with a given quantity of fixed and variable inputs is called:
A) total product.
B) average variable product.
C) marginal product.
D) total fixed product.
A
Economics
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According to the expenditure approach to measuring GDP, in the United States , the largest component of GDP is
A) net exports of goods and services. B) consumption expenditure. C) government expenditure on goods and services. D) investment. E) wages.
Economics
For a natural monopoly, the efficient quantity is produced when the firm is regulated so that
A) P = ATC. B) P > ATC. C) P = MC. D) P > MC. E) P < MC.
Economics
The Sherman Antitrust Act was passed in:
a. 1890. b. 1914. c. 1929. d. 1933.
Economics
Skis and snowboards are close substitute goods. Fill in the blanks: A in the price of snowboards would tend to the demand for
What will be an ideal response?
Economics