Which of the following statements about costs is correct?
a. When marginal cost is less than average total cost, average total cost is rising.
b. The total cost curve is U-shaped.
c. As the quantity of output increases, marginal cost eventually rises.
d. All of the above are correct.
c
Economics
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Determination of a public good depends only upon the technical characteristics of the good
a. True b. False
Economics
If the level of government spending increases at the same time the Fed is pursuing contractionary monetary policy, we know that
A. incomes will fall. B. the interest rate will rise. C. incomes will rise. D. the interest rate will fall.
Economics