The total variable cost curve ________ because ________ as output increases
A) slopes upward; variable cost increases
B) slopes upward; marginal cost increases
C) slopes downward; variable cost increases
D) slopes downward; marginal cost increases
E) is horizontal; fixed cost does not change
A
Economics
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If reserves held at the Fed by the private banks decrease, ________
A) the nominal interest rate will decrease B) banks will make more loans C) demand for labor will increase D) bank deposits will decrease
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When a firm hires an additional unit of labor, the increase in a firm's total revenues is known as the marginal:
a. cost. b. product. c. utility product. d. revenue product.
Economics