At an output of 19, MC = $39 and AVC = $44. At an output of 20, MC = $50 and AVC = $45. At the shutdown point, AVC is
A. more than $45.
B. $45.
C. between $44 and $45.
D. less than $44.
D. less than $44.
You might also like to view...
The above figure shows the payoff matrix for two firms, A and B, selecting an advertising budget. The firms must choose between a high advertising budget and a low advertising budget. Firm A's dominant strategy
A) does not exist. B) is to do the opposite of firm B. C) is to select a high advertising budget. D) is to select a low advertising budget.
In the long run, those who are hurt by the minimum wage are
a. employers in non-minimum wage industries b. employers who have to pay more c. consumers who have to pay more for goods d. all of these
Property taxes in the U.S. are ________
A) progressive B) regressive C) proportional D) negative
Organizational structure can be a strategic asset if it
A) adds value. B) adds value and can be duplicated. C) adds value and cannot be duplicated. D) can be franchised.