Suppose that, when producing 10 units of output, a firm's AVC is $22, its AFC is $5, and its MC is $30. This firm's
A. ATC is $35.
B. ATC is $57.
C. total cost is $270.
D. total cost is $30.
Answer: C. total cost is $270.
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When the Fed sells government securities
A) reserves decrease, leading to a decrease in the money supply by an amount more than the sale of the government securities. B) reserves increase, leading to a increase in the money supply by an amount more than the sale of the government securities. C) reserves increase, leading to a decrease in the money supply by an amount more than the sale of the government securities. D) reserves decrease, leading to a increase in the money supply by an amount more than the sale of the government securities.
A vertical Phillips Curve is consistent with
A) a constant price level. B) constant velocity. C) an upward sloping aggregate supply curve. D) a vertical aggregate supply curve.
Which of the following countries had double-digit inflation for most of the years from 2000 to 2010?
a. India b. Iran c. Italy d. Iraq
Statistical studies suggest that the cost of direct controls for any target level of pollution is
a. much higher than the cost of taxes on emissions. b. about the same as the cost of taxes on emissions. c. lower than the cost of taxes on emissions. d. impossible to compare to the cost of taxes on emissions.