Average total cost equals
A) TC/Q.
B) TVC/Q.
C) TFC/Q.
D) change in total cost/change in output.
Answer: A
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Use the following market data to answer the question below.Price per UnitQuantity Purchased by ConsumerQuantity Sold by Producer$52,0000101,800300151,600600201,400900251,2001,200301,0001,500In the market shown in the table, the marginal benefit of 1,200th unit is
A. $25. B. $10. C. $20. D. $15.
Using this consumption function, the marginal propensity to consume is
A) 1.33. B) 0.75. C) $1.5 trillion. D) $2 trillion. E) 0. The figure above shows three different consumption functions for a nation.
Which of the following was the reserve currency under the gold exchange standard?
a. U.S. dollar b. Euro c. Great Britain pound d. Australian dollar e. Deutsche mark
Figure 16.1A firm that generates pollution is illustrated in Figure 16.1. Suppose the government is considering changing the pollution tax from P3 to P2. That new policy would:
A. increase the marginal benefit to firms of abating, and thus encourage greater abatement. B. increase the marginal benefit to firms of abating, causing them to generate more pollution. C. reduce the marginal benefit to firms of abating, causing them to generate more pollution. D. reduce the marginal benefit to firms of abating, and thus encourage greater abatement.