Average total cost is very high when a small amount of output is produced because
a. average variable cost is high.
b. average fixed cost is high.
c. marginal cost is high.
d. marginal product is high.
b
Economics
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Fears of an impending civil war in Baltonia have reduced the confidence of potential investors. Assuming all else equal, which of the following is likely to happen in this case?
A) The consumption expenditure in Baltonia will rise. B) The equilibrium real wage in Baltonia will rise. C) The supply of labor in Baltonia will fall. D) The demand for labor in Baltonia will fall.
Economics
From 2007 to 2015, the amount of assets owned by the Fed approximately
A) doubled. B) tripled. C) quadrupled. D) quintupled.
Economics