In the above figure, the line represented by the "2" is the
A) average fixed cost.
B) average variable cost.
C) total cost.
D) average total cost.
B
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The ________ the Herfindahl-Hirschman Index, the ________
A) lower; more concentrated the industry B) higher; more concentrated the industry C) higher; less concentrated the industry D) lower; higher the profits earned in the industry
In response to banks entering into the insurance business, insurance companies have started to supply ________ insurance
A) debt B) credit C) equity D) currency
Exchange rate transactions that involve the immediate transfer of bank deposits are known as ________
A) backward transactions B) forward transactions C) spot transactions D) dog transactions
If England limits the playing of U.S. music to no more than 5 hours per day,
A. economists would not call this a limit on trade, since it is a service. B. this make U.S. producers of television wealthier than they would otherwise be. C. this is the same as a tariff. D. this is the same as a quota.