Other things being equal, if a firm's marginal cost curve shifts upward at all output levels:
A. the average total cost curve remains unchanged at all output levels.
B. the average variable cost curve remains unchanged at all output levels.
C. the average fixed cost curve remains unchanged at all output levels.
D. All of these
Answer: C
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The universal bank is characteristic of:
a. Germany b. early American capitalism c. Japan d. the Four Tigers e. none of the above
If the price of the good measured on the horizontal axis is subject to volume penalties, then:
A. the budget line will get steeper as the consumer moves along it from left to right. B. the budget line will get flatter as the consumer moves along it from left to right. C. the indifference curve will get steeper as the consumer moves along it from left to right. D. the indifference curve will get flatter as the consumer moves along it from left to right.
How can the average-fixed-cost curve be declining when fixed cost is constant?
When there is inflation, the number of dollars needed to buy a representative basket of goods
a. increases, and so the value of money rises. b. increases, and so the value of money falls. c. decreases, and so the value of money rises. d. decreases, and so the value of money falls