A firm's ______ cost is equal to the sum of the ______ costs of the individual units it produces.
A. total; average
B. variable; average
C. total; marginal
D. variable; marginal
D. variable; marginal
You might also like to view...
At any given moment, there is one exchange rate
A. for currencies in the free world. B. between every pair of currencies. C. for all the world’s currencies. D. established by the Federal Reserve Board.
When a country has a current account deficit, the country
A) is borrowing from abroad. B) is lending abroad. C) must have a government budget surplus. D) must have a government budget deficit.
Expansionary fiscal policy can be used to reduce unemployment by
A) increasing long-run aggregate supply so as to raise real GDP. B) increasing aggregate demand so as to raise real GDP. C) reducing nominal wages so as to encourage firms to hire more workers. D) eliminating inefficiencies from labor markets.
The idea that a dollar in the hand of a rich person is worth less than a dollar in the hand of a poor person is a consequence of ________ justice.
A. Rawlsian B. absolute C. social D. utilitarian