Average cost is equal to total cost divided by quantity
a. true
b. false
Ans: a. true
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When there is a shortage of dollars in the foreign exchange market, the
A) U.S. exchange rate will appreciate. B) supply curve of dollars shifts rightward to restore the equilibrium. C) demand curve for dollars shifts leftward to restore the equilibrium. D) U.S. exchange rate will depreciate. E) supply curve of dollars shifts leftward to restore the equilibrium.
Monopolistic competition is different from perfect competition because monopolistic competitors produce
a. a homogeneous product b. a homogeneous but unique product c. identical products d. differentiated products e. products similar to those produced by a monopoly
Lawn-care services in Dallas, Texas, charge $20 to mow an average-sized yard. Explain why there is little deviation from this rate
Economists measure a market's domination by a small number of firms with a statistic called the