As output increases, the ATC
a. increases.
b. decreases.
c. remains constant.
d. falls and then rises.
d. falls and then rises.
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Scientists have said for years cod was so seriously overfished in European Union waters that there was a risk of extinction due to stock collapse. Why would cod be on the risk of extinction?
A) Fishing in the sea for cod is an example of a public good. B) Fishing in the sea for cod is an example of a common resource. C) Fishing in the sea for cod is an example of a private good. D) Fishing in the sea for cod is an example of a natural monopoly.
Suppose a major computer virus struck the nation's computers and all hard drives were erased. What would happen in the labor market?
a. The real wage would increase and so would employment. b. The real wage would not change, but employment would decrease. c. The real wage would increase and employment would decrease. d. The real wage would decrease and so would employment. e. The real wage would decrease and employment would increase.