The table shows short-run average total cost schedules for three plants of different sizes that a firm might build in the long run.Plant 1Plant 2Plant 3OutputATCOutputATCOutputATC10$1010$1510$20209201020153083073010409401040850105014509What is the long-run average total cost of producing 30 units of output?
A. $8
B. $9
C. $7
D. $10
Answer: C
Economics
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The consumption function shows the relationship between consumer spending and the price level
Indicate whether the statement is true or false
Economics
When we describe stock prices as following a random walk, we mean that future changes in stock prices are
A) unpredictable. B) increasing. C) decreasing. D) constant.
Economics
A. panel (b) only. In panel (b), there will be
A. a shortage of wheat. B. a surplus of wheat. C. equilibrium in the market. D. lines of people waiting to buy wheat.
Economics
Changes in the national incomes of our trading partners would directly impact our:
A. Consumption B. Exports C. Imports D. Government spending
Economics