In the figure above, an
A) efficient output results, but the firm incurs a loss per household which must be subsidized in some way.
B) inefficient output results, though the firm covers its costs.
C) efficient output results, though marginal costs exceed average total costs.
D) inefficient output results because the firm cannot cover its costs.
E) efficient output results because consumer surplus is maximized.
A
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The Baumol model of money demand strengthens the possibility that the LM curve is
A) horizontal. B) upward-sloping. C) vertical. D) downward-sloping.
At a fair carnival roulette wheel, a player can either win $10, $30, or $80 . Assuming that the wheel is fair, what is the expected value of the play?
a. $20 b. $40 c. $60 d. $80
When you are calculating how long it will take your initial bank deposit to double, the rule of 72 prescribes that you divide the annual interest rate paid on the deposit by 72
a. True b. False Indicate whether the statement is true or false
In the long-run average cost function, only the amount of capital is allowed to vary
Indicate whether the statement is true or false