The vertical distance between a firm's total cost (TC) and its total variable cost (TVC) curves
A) decreases as output decreases.
B) is equal to the average variable cost, AVC.
C) is equal to the total fixed cost, TFC.
D) is equal to the marginal cost, MC.
C
Economics
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GLS is consistent and BLUE if
A) X is predetermined. B) the error process is AR(1). C) X is strictly exogenous. D) all the roots are inside the unit circle.
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An increase in tuition rates for astronomy students would
a. decrease the wage rate for astronomers b. cause the demand curve for astronomers to shift to the right c. cause the demand curve for astronomers to shift to the left d. lead to future reductions in the labor supply of astronomers e. lead to a rise in the marginal revenue product of astronomers
Economics