The formula for AVC is
A. ?TVC/?q.
B. q/TVC.
C. TVC/q.
D. ?q/?TVC.
Answer: C
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An interest-earning account that can be withdrawn at any time without payment of a penalty is a
A) money market deposit account. B) certificate of deposit. C) savings deposit. D) time deposit.
The face value of money or income is called its ________ value
A) external B) real C) marginal D) nominal
Because there are many buyers and sellers in a perfectly competitive market, no one seller can influence the market price
a. True b. False Indicate whether the statement is true or false
Suppose this table shows your demand schedule for Buffalo chicken wings. (a) What is your total utility from four wings? (b) What is your marginal utility from the fifth wing? (c) If the price is $.25, how much will your consumer surplus be?
