Which of the following statements is true?
a. TC = TFC ? TVC.
b. AVC = TC / Q.
c. TFC = TC ? TVC.
d. MC equals the change in ATC divided by the change in Q.
c
Economics
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The original mission of the World Bank was to
A) provide capital to underdeveloped countries. B) provide capital to firms around the world. C) provide financial assistance for the reconstruction of war-damaged nations. D) help countries manage their exchange rates.
Economics
A firm's long-run position under perfect competition is often said to be efficient because
A) P = AR > MC = AVC. B) P = AR > MR = MC. C) P = MR = AVC = AFC. D) P = MR = MC = ATC.
Economics