In the above figure, the relationship between costs indicates that the distance between curves
A) A and B is equal to the fixed cost.
B) A and B is equal to the variable cost.
C) B and C is equal to the fixed cost.
D) B and C is equal to the average total cost.
A
Economics
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The production possibilities frontier illustrates
A) the maximum amount of inputs used to produce a particular output. B) the minimum amount of inputs used to produce a particular output. C) the maximum combination of two goods that can be produced with a given set of resources. D) the minimum combination of two goods that can be produced with a given set of resources. E) none of the above.
Economics
A tax for which the rate varies directly with the income of the person taxed is known as a(n):
a. regressive tax. b. progressive tax. c. proportional tax. d. flat tax. e. excise tax.
Economics