The marginal cost curve intersects the average fixed cost curve at the minimum point of the average fixed cost curve.
Answer the following statement true (T) or false (F)
False
The average fixed cost curve has no minimum point, since average fixed cost declines continuously as output rises.
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A modern economy has millions of goods and services whose prices are continually increasing and decreasing based on supply and demand.
Select whether the statement is true or false. A. True B. False
Alice and Alan live in apartments in the same building. When Alan’s apartment catches on fire, the fire department responds, saving his apartment and Alice’s, too, by preventing the fire from spreading. This is an example of how a public good is:
a. nonrivalrous. b. noncooperative. c. nonexcludable. d. nonpartisan.
The market that coordinates the exchange of productive inputs between the household and business sectors is the
a. stock market. b. goods and services market. c. resource market. d. loanable funds market.
Suppose that the country of France has a 22% nominal interest rate and an expected inflation rate of 10%. Which of the following is the best estimate of the Real interest Rate in the country?
A. 2.2% B. 22% C. 12% D. 10% E. Not enough info.