So long as a firm is enjoying increasing marginal returns, a one unit increase in output will cause marginal costs to ________ and total costs to ________
A) increase; increase
B) decrease; increase
C) increase; decrease
D) decrease; decrease
B
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During the Federal Bank Holiday ordered by President Roosevelt and the week that followed it,
a. new supplies of gold were distributed to the banks. b. a national monetary commission was set up. c. the banks were inspected. d. actions were taken to take the US off the gold standard e. Both c and d are correct.
Higher interest rates will tend to reduce aggregate demand, other things being equal
a. True b. False Indicate whether the statement is true or false
Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will
a. rise. The supply of workers in other similar professions will also rise. b. rise. The supply of workers in other similar professions will fall. c. fall. The supply of workers in other similar professions will rise. d. fall. The supply of workers in other similar professions will also fall.
In the graph showing the Phillips curve from 2006 to 2016, we can see that during the period following the 2008 financial crisis, the Phillips curve ______.
a. shifted considerably to the left
b. shifted considerably to the right
c. fluctuated wildly
d. remained fairly stable