Total variable cost
A) increases as output increases.
B) does not change as output changes.
C) decreases as output increases.
D) initially decreases and then increases as output increases.
A
Economics
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Refer to the figure above. What is the consumer surplus in the market?
A) $60 B) $90 C) $120 D) $160
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As a result of establishing a legal minimum wage above the market clearing wage
A) there will be a shortage of workers. B) firms will hire fewer workers. C) firms will hire more workers. D) fewer workers will want to work.
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