When average variable cost is rising ______.
a. the average total cost curve must be moving downward
b. the point of increasing marginal utility has set in
c. the average fixed cost curve crosses it at its highest point
d. marginal cost must be higher than the average variable cost
d. marginal cost must be higher than the average variable cost
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What will be an ideal response?
Which of the following is not a short-run effect of rent control on the housing market?
a. reduced rents b. a large shortage c. a small increase in quantity demanded d. a small decrease in quantity supplied
Which of the following will cause a movement from one point on an AD curve to another point on the same AD curve?
A) a change in consumption B) a change in government expenditures C) a change in net exports D) a change in the price level E) all of the above
A predetermined variable in a simultaneous equations model is:
A. a constant. B. the error term. C. a lagged variable. D. an omitted variable.