In the short run, ATC is not always higher than
a. AVC
b. AFC
c. MC
d. Zero
c
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The primary method that decision makers use to evaluate choices among competing alternatives is called
A) the competitive forces model. B) cost-benefit analysis. C) heads-or-tails analysis. D) absolute advantage.
Michigan Radio is the state's most listened-to public radio service, attracting approximately 400,000 listeners each week. The on-air fundraiser, which ran during October 2010, generated over 7400 pledges from donors
The money raised helps pay for programming costs at the station, with membership support being the single largest source of income. The 392,600 listeners who did not call and donate can be classified as what? A) free riders B) marginal beneficiaries C) rival consumers D) rationally ignorant
The price effect is the effect of a ________ on the quantity of the good ________
A) decrease in the price; demanded B) change in the price; supplied C) change in price and income; consumed D) change in the price; consumed
The utility function of a risk-averse person has a
a. positive slope and gets steeper as wealth increases. b. positive slope but gets flatter as wealth increases. c. negative slope but gets steeper as wealth increases. d. negative slope and gets flatter as wealth increases.