Average variable cost equals
A. TC/Q.
B. TVC/Q.
C. TFC/Q.
D. change in total cost/change in output.
Answer: B
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If the demand for farm products is price inelastic, a good harvest will cause farm revenues to:
A. increase. B. decrease. C. be unchanged. D. either increase or decrease, depending on what happens to supply.
What will happen to the U.S. dollar price of a euro and the quantity of euros exchanged when the demand for the euro decreases, but the supply does not change? Has the U.S. dollar appreciated or depreciated?
Please provide the best answer for the statement.
According to the above table, if real Gross Domestic Product (GDP) is $25,000, planned saving equals
A. $2,000. B. $4,000. C. $5,000. D. $3,000.
Refer to Figure 4.1. The game described in the payoff matrix has the characteristics of a(n) ________ game
A) prisoner's dilemma B) pure coordination C) battle of the sexes D) assurance