Which of the following is true of the MC curve?
a. It intersects the ATC curve at its minimum, but it does not intersect the AVC curve at its minimum.
b. It intersects the AVC curve at its minimum, but it does not intersect the ATC curve at its minimum.
c. It intersects both the ATC and the AVC curves at their minimums.
d. It intersects both the ATC and the AFC curves at their minimums.
e. It intersects both the AVC and the AFC curves at their minimums.
C
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The demand for household appliances increased due to an increase in consumers' incomes. This will lead to a ________, assuming all else equal
A) rightward shift of the labor demand curve of this industry B) leftward shift of the labor supply curve of this industry C) rightward shift of the labor supply curve of this industry D) leftward shift of the labor demand curve of this industry
If disposable income rises from $15,000 to $20,000 and the marginal propensity to consume equals 0.9, then saving must increase by $500
a. True b. False Indicate whether the statement is true or false