When marginal cost is below average total cost,
a. total cost is falling
b. average total cost is rising
c. average total cost is falling
d. average fixed cost is rising
e. total variable cost is falling
C
Economics
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The cost borne by a producer in the production of a good or service is called
A) internal cost. B) social cost. C) public cost. D) private cost.
Economics
If the aggregate price level at time t is denoted by Pt, the inflation rate from time t - 1 to t is defined as
A) ?t = (Pt - Pt - 1)/Pt - 1. B) ?t = (Pt + 1 - Pt - 1)/Pt - 1. C) ?t = (Pt + 1 - Pt )/Pt. D) ?t = (Pt - Pt - 1)/Pt.
Economics