The Marginal Cost curve will
a. cut ATC at the minimum of ATC but cut AVC at a point to the left of the minimum of AVC.
b. cut ATC at the minimum of ATC but cut AVC at a point to the right of the minimum of AVC.
c. cut AVC at the minimum of AVC but cut ATC at a point to the left of the minimum of ATC.
d. cut AVC at the minimum of AVC but cut ATC at a point to the right of the minimum of ATC.
e. cut both ATC and AVC at their respective minimums
E
You might also like to view...
An employee injured by a damaged machine that the employer knows is broken has recourse under
a. the Good Samaritan Rule. b. the standard of Strict Liability. c. the legal principle of General Average. d. the doctrine of Respondeat Superior.
The most people live in ________ economies and the fewest people live in ________ economies
A) emerging market; developing B) advanced; emerging market C) developing; emerging market D) advanced; developing E) developing; advanced
For every choice a person makes it can be assumed that
A) the chooser has full knowledge of the situation. B) some opportunity cost was involved. C) there is a fifty-fifty chance the choice was the wrong one. D) a good is involved and satisfaction is gained.
Which of the following statements best describes one of the schools of thought regarding the “new economy” controversy?
a. Increased military spending post-9/11 has contributed to the growth in U.S. productivity. b. Extraordinary advances in communications and information technology have contributed to the growth in U.S. productivity. c. The increase in immigration has contributed to the growth in U.S. productivity. d. The aging U.S. population has contributed to the growth in U.S. productivity.