Which level indicates the point of maximum economic efficiency?
A) lowest point on AC curve
B) lowest point on AVC curve
C) lowest point on MC curve
D) None of the above
A
Economics
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Since the National Basketball Association is the only significant employer of professional basketball players, it might be referred to as a(n)
A) oligopsony. B) monopoly. C) monopsony. D) oligopolist.
Economics
Which of the following refers to the additional cost of producing one more unit?
a. Marginal cost b. Variable cost c. Average cost d. Explicit cost
Economics