Average fixed cost:
a. remains unchanged as output expands
b. is defined as the change in total cost divided by the change in output.
c. always increases as output increases.
d. always decreases as output expands.
d
You might also like to view...
Company X is a perfume manufacturer and one of its popular products involves rosewood. It is deeply concerned with the market price fluctuations of rosewood. To protect this, it enters into a contract which would allow the company to buy rosewood at a specific price at a given future date. This is an example of
A. speculation. B. profit maximization. C. hedging. D. investment.
A consequence of a negative externality is that social costs __________ private costs, and the efficient level of output __________.
A. equal; does not require any type of government intervention B. are less than; requires the government to create a subsidy C. are greater than; requires the government to impose a tax D. are greater than; requires the government to create a subsidy E. are less than; requires the government to impose a tax
A syndicate is
A) a group of brokers illegally making use of insider information. B) a group of commercial banks that agrees to accept the checks of each other's depositors. C) a group of investment banks underwriting a large security issue. D) a group of dealers that markets a government bond issue.
Refer to Table 2.3. Assume that 2010 is the base year. The GDP deflator for 2007 is
A) 67.1. B) 84.5. C) 100.0. D) 118.3.