As output rises from the shutdown point to the break-even point, the difference between AVC and ATC gets ___________.
Fill in the blank(s) with the appropriate word(s).
smaller
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In 2008, Australia had a government budget surplus of $21.7 billion. This budget surplus shifts the demand for loanable funds curve ________
A) leftward and lowers the real interest rate. B) leftward and creates a crowding-out effect. C) rightward and creates a crowding-out effect. D) rightward and creates a Ricardo-Barro effect.
Each week Bill buys exactly 7 bottles of cola regardless of its price. Bill's own price elasticity of demand for cola IN ABSOLUTE VALUE is:
A. 1. B. greater than 1. C. zero. D. less than 1.
Which of the following is the best example of oligopoly?
A. Women's dress manufacturing. B. Automobile manufacturing. C. Restaurants. D. Cotton farming.
In the short run average costs eventually ________ because of diminishing returns, and in the long run average costs eventually ________ because of diseconomies of scale.
A. increase; increase B. increase; decrease C. decrease; decrease D. decrease; increase