Average variable costs
A) are parallel with average total costs
B) rise if marginal costs rise.
C) are not parallel with average total costs.
D) fall with increases in production.
C
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Which of the following is not an important difference between privately-owned enterprises and government institutions?
A) Decision makers confront different sets of incentives. B) Different kinds of information are available to decision makers. C) Government has the generally acknowledged right to use coercion. D) Self-seeking motives are less characteristic of government employees.
If the resources within a nation are not being fully or efficiently utilized, it means:
a. that the nation is operating at a point inside its production possibilities curve. b. that the nation is operating at a point outside its production possibilities curve. c. that the nation is operating at a point along its production possibilities curve. d. that the nation is probably technologically advanced. e. the government of that nation should seize ownership of the resources in order to attain the necessary efficiencies.