Average fixed cost (AFC)
A) is the fixed cost divided by the average sales price of the final good.
B) is the fixed cost divided by the quantity of output produced.
C) is $0 when no output is produced.
D) is always less than average variable cost (AVC).
B
Economics
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Which of the following is true regarding the growth record of less-developed countries (LDC's) during the past quarter of a century?
a. Some are among the fastest growing countries in the world. b. Some are among the slowest growing countries in the world. c. The most populous, less-developed countries have experienced declining per capita income levels. d. All of the above are true.
Economics
The long-run demand curve for a monopolistically competitive firm is horizontal.
Answer the following statement true (T) or false (F)
Economics