When the cost curves have U-shapes, at the point where marginal cost equals average total cost:
a. b and c.
b. marginal cost is rising.
c. average total cost is at its minimum.
d. average variable cost is falling.
e. the fixed cost has been fully depreciated.
a
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With the exception of during recessions, workers in Canada are eligible for unemployment benefits for about twice as long a period of time as workers in the United States. As a result,
A) frictional unemployment is higher, on average, in the United States than in Canada. B) the opportunity cost of job search in Canada is lower than in the United States. C) the average duration of unemployment is longer in the United States than in Canada. D) the unemployment rate in Canada is usually higher than in the United States.
If a public utility is subject to average-cost pricing regulation, it will: a. earn a normal rate of return
b. produce the socially efficient level of output. c. suffer economic losses without a subsidy. d. earn an above-normal rate of return.
Clint puts $200 into an account when the interest rate is 8 percent. Later he checks his balance and finds that he has a balance of about $272.10 . How many years did Clint wait to check his balance?
a. 3 years b. 3.5 years c. 4 years d. 4.5 years
The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5P. If this economy opens to trade while the world price of a car is $6,000, and the government imposes a quota allowing 3,000 cars to be imported, then domestic equilibrium quantity of cars will be ________.
A. 12,000 B. 6,000 C. 10,000 D. 8,000