The corporate form of business started to become more prevalent in the United States economy in the late 1700s
Indicate whether the statement is true or false
False
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The firm’s average cost curve is the result of cost minimization in the use of fixed inputs.
Answer the following statement true (T) or false (F)
Refer to Figure 8.1. At the profit-maximizing level of output, ATC is
A) $26. B) $30. C) $31. D) $40. E) $44.
Which of the following could explain an increase in the equilibrium wage rate for a particular job?
a. a decrease in the amount of training needed to perform this job b. an increase in the amount of risk associated with this job c. a decrease in the amount of risk associated with this job d. an improvement in the working conditions associated with this job e. increased migration of workers to this geographic location
A minimum price for a good or service:
a. rationing b. price floor c. excess demand d. surplus e. equilibrium