Refer to Figure 7.1. At output level Q3
A) average fixed cost reaches its minimum.
B) average total cost reaches its minimum.
C) average variable cost reaches its minimum.
D) marginal cost reaches its minimum.
E) all of the above
C
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How does the owner of a corporation relate to the business?
A) The owners of the business have no separate legal distinction from the business. B) The owners of the business have a separate legal distinction from the business. C) The personal assets are part of the corporation's assets. D) None of these describe the legal relationship of corporate owners to the business.
Examples of assets that are included in household wealth would be
A) stocks, credit cards, and savings accounts. B) stocks, bonds, and savings accounts. C) stocks, bonds, and mortgages. D) stocks, loans owed, and savings accounts.
As a policy instrument, pollution rights allow income distribution effects that can more easily win the cooperation of affected businesses
Indicate whether the statement is true or false
In the long run, the greater burden of a specific tax will usually be absorbed by:
a. consumers. b. the party—consumers or producers—with the more elastic demand/supply curve. c. the party with the least elastic demand/supply curve. d. shareholders and employees of the firm in the form of reduced dividends and wages.