Suppose that when output is 20, marginal cost is $20, and average total cost is $30 . Then which of the following is most likely to be true?
a. Average total cost is declining.
b. Average total cost is constant.
c. Average total cost is rising.
d. Average total cost is less than average fixed cost.
a
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A not-for-profit organization conducts several workshops to prevent drug addiction among teenagers. This is an example of ________
A) indoctrination B) backward induction C) anchoring D) sniping
International trade occurs because the opportunity cost of producing specific goods differs across
a. firms b. individuals c. regions of the U.S. d. countries e. households
An increase in the value of the dollar will ___ agg demand
Fill in the blank(s) with the appropriate word(s).
Behavioral economics deals with
A. only theories without justification from empirical evidence. B. bounded rationality. C. unbounded willpower. D. the assumption that people are always selfish.