When marginal cost is less than average total cost,
a. marginal cost must be falling.
b. average variable cost must be falling.
c. average total cost is falling.
d. average total cost is rising.
c
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Which of the following is a difference between an English auction and a Dutch auction?
A) Bids are placed publicly in an English auction while bids are placed privately in a Dutch auction. B) The bidder who values the good the most wins in an English auction while the bidder who values the good the least wins in a Dutch auction. C) An English auction is an ascending price auction while a Dutch auction is a descending price auction. D) An English auction is a descending price auction while a Dutch auction is an ascending price auction.
If economic profits are zero, then the entrepreneur can go elsewhere and do better
Indicate whether the statement is true or false
U.S. government policy to stimulate research and development activities would be most likely to succeed if it involved
a. interest rate policy. b. corporate tax policy. c. personal income tax policy. d. payroll tax policy.
Based on the circular flow model, money flows from households to businesses in:
A. factor markets. B. product markets. C. neither factor nor product markets. D. both factor and product markets.