The amount of consumption expenditure that takes place when income is zero is
A) called induced consumption.
B) called zero-based consumption.
C) equal to zero.
D) called autonomous consumption.
E) equal to saving.
D
Economics
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A best response is ________
A) one player's optimal action choice irrespective of the action of the other player B) one player's optimal action choice taking the other player's action as given C) an action choice that always results in a zero payoff to the opponent D) an action choice that results in equal payoffs to all the players in a game
Economics
The total cost of a firm is $50, the average variable cost is $2, and the average fixed cost is $3. How may units of the output does the firm produce?
A) 5 units B) 10 units C) 15 units D) 18 units
Economics