If marginal cost is equal to average total cost, then
a. marginal cost is minimized.
b. average total cost is minimized.
c. average variable cost is minimized.
d. marginal cost is zero.
b
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If the quantity demanded of a good decreases by 10 percent when the price of the good increases by 5 percent, the elasticity of demand is -2.00
Indicate whether the statement is true or false
If the interest rate increases, the
a. cost of saving will increase b. cost of borrowing will increase c. firm should decrease the amount of capital it owns by selling capital d. firm should acquire more capital e. supply of loanable funds will increase
Someone who is an excellent salesperson will normally be less inclined to work for commissions than for a fixed salary.
Answer the following statement true (T) or false (F)
Under the right circumstances, what resource can be used in the production of the skills of a talented gymnast?
A) Baseball bats B) Wheaties C) Poetry books D) Cigarettes E) All of the above.