A positive statement

A) must always be right.
B) cannot be tested.
C) might be right or wrong.
D) depends on someone's value judgment.
E) cannot be negative.

C

Economics

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Describe and explain the policy irrelevance proposition

What will be an ideal response?

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The average total cost curve eventually slopes upwards because of the

A) law of diminishing returns. B) reductions in average fixed costs. C) increase in capital costs. D) decrease in labor costs.

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