State the minimum points (in dollars and cents) of (a) the AVC, (b) the ATC.
(a) $432 (must be a little below $433.33); (b) $598.90 (must be a little below $600)
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The slope of the total revenue curve for a perfectly competitive firm equals
a. marginal revenue, which is less than price b. marginal revenue, which is greater than price c. marginal revenue, which is equal to price d. average revenue, which is less than price e. average revenue, which is greater than price
The account which records a nation's foreign economic transactions is called the:
a. Exchange Market. b. Trade Account. c. Balance of Payments. d. T account.
A numerical limit imposed by a government on the quantity of a good that can be imported into the country is called a
A) barricade. B) quota. C) tariff. D) quantity floor.
The most likely way the public debt burdens future generations, if at all, is by:
A. reducing the current level of investment. B. reducing real interest rates. C. causing deflation. D. causing future unemployment.