Figure 7-5
Which of the curves in Figure 7-5 could be a firm’s average fixed cost curve?
A. (a)
B. (b)
C. (c)
D. (d)
Answer: A
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The total number of governments in the United States has increased since 1972
a. True b. False
Ways to "game" the budgeting process include
a. accelerating sales if just short of a target b. accelerating expenses if just short of a target c. accelerating sales once a target is met d. delaying expenses costs once a target is met
A country with plenty of capital and little land may have a comparative advantage in:
A. land-intensive activities. B. capital-intensive activities. C. labor-intensive activities. D. technology-intensive activities.
With regard to preventing entry, if identical firms act simultaneously,
A) they cannot credibly threaten each other B) they will all incur losses C) only one firm will enter the market D) none of them would enter the market