The marginal cost curve intersects the minimum point of the average variable cost curve
a. True
b. False
A
You might also like to view...
The stock market provides two functions for corporate financing: reducing investors’ risk and setting the prices of stocks.
Answer the following statement true (T) or false (F)
If a firm sells more than the break-even quantity,
a. It will make a profit b. It will only cover the variable costs c. It will make a loss d. A firm is unable to sell above the break-even quantity
Workers in a nearby pizza restaurant may indirectly enjoy income increases from a nearby construction process
a. True b. False Indicate whether the statement is true or false
The adverse selection problem suggests that:
A. the ratio of lemons (low quality) to plums (high quality) is likely to be high. B. the ratio of plums (high quality) to lemons (low quality) is likely to be high. C. the price of lemons (low quality) will be below buyer's willingness to pay. D. plums (high quality) will sell for more than most buyers' willingness to pay.