Answer the following questions true (T) or false (F)
1. Average total cost is equal to average variable cost minus average fixed cost.
2. As output increases, average fixed cost gets smaller and smaller.
3. A firm's short-run average total cost curve is parallel to its short-run average variable cost curve.
1. FALSE
2. TRUE
3. FALSE
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The use of a directive interview makes it more difficult for supervisors to compare one applicant's background to another.
Indicate whether the statement is true or false.
Production functions used in economic growth theory are always limited to two inputs: labor and capital
Indicate whether the statement is true or false
Which of the following is the formula for the intra-industry trade (IIT) share in a product's total trade?
A. 1 - [ |X + M| / (X - M)] B. 1 - [ |X - M| / (X + M)] C. 1 - |X - M| D. 1 - (X + M)
A bank has a reserve requirement of 10 percent. This means that if a customer deposits $10,000, the bank may increase lending by:
A. $11,000. B. $1,000. C. $10,000. D. $9,000.