Average variable costs are minimized when:
A. marginal costs begin to increase.
B. marginal costs begin to decrease.
C. marginal cost is greater than average total cost.
D. marginal cost equals average variable cost.
Answer: D
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A firm that practices group price discrimination will set the lower price in the market that has the most elastic demand
Indicate whether the statement is true or false
Union membership as a share of the work force is ____ in states with right-to-work laws. (Fill in the blank.)
a. above the national average. b. below the national average. c. greater than 50 percent. d. close to 100 percent.
If stock prices follow a random walk, then stock investors can make large profits by
a. buying stocks whose prices have been falling for several days. b. buying stocks whose prices have been rising for several days. c. performing fundamental analysis of stocks using data contained in annual reports. d. using inside information.
Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. Micro Oven's average fixed costs of producing 10 units of output are
A. $30. B. $40. C. $50. D. indeterminate from this information.