Refer to Figure 3.1. If one of the graphs represents the total cost of an activity, which other graph best represents the marginal cost of the activity?
A. A
B. B
C. C
D. D
B. B
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Health care costs rose more than 10 percent in 2011, according to a survey of insurers by Aon Consulting Worldwide. Which of the following would be a fixed cost in a hospital?
A) an MRI machine B) bandages C) nurses D) syringes
According to the liquidity premium theory, if market participants expect that inflation in the future will be lower than it currently is, the yield curve will
A) slope upward. B) be flat. C) be inverted. D) be vertical.
From 1973 to the early 1990s, U.S. productivity __________________.
Fill in the blank(s) with the appropriate word(s).
Sam Voter prefers Jack to Rob, Rob to Mark, and Jack to Mark. Sam's preferences:
A. are transitive. B. indicate that he is a liberal. C. are not complete. D. are not consistent with our assumptions about consumer behavior.