If as output increases average product increases, then ________
A) average total cost decreases
B) average fixed cost decreases
C) marginal cost decreases
D) average variable cost decreases
D
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Describe why monetary policy rules are superior to discretionary monetary policy
What will be an ideal response?
Which of the following would most likely be considered complements?
A) butter and margarine B) rental cars and taxis C) plastic wrap and aluminum foil D) tennis rackets and tennis balls
In a situation in which property rights are not well-defined and social costs exceed private costs, government can use all of the following to induce producers to bring private costs into alignment with social costs EXCEPT
A) taxing production. B) coercive limits on production. C) subsidization of production. D) regulation of production.
If Stimpson University increases tuition in order to increase its revenue, it will:
a. not be successful if the demand curve slopes downward. b. be successful if demand is elastic. c. be successful if demand is inelastic. d. be successful if supply is elastic. e. be successful if supply is inelastic.