The slope of the indifference curve between steak and lobster is always equal to the ratio of their prices

Diseconomies of scale are illustrated by:

A) a downward sloping long-run average cost curve. B) a flat long-run average cost curve. C) an upward-sloping long-run average cost curve. D) an upward-sloping short-run average total cost curve.

To join the EMU, a country should have no more than

A) 1.5 percent inflation rate above the average of the three EU member states with the highest inflation. B) 3 percent inflation rate above the average of the three EU member states with the lowest inflation. C) 4 percent inflation rate above the average of the three EU member states with the lowest inflation. D) 1.5 percent inflation rate above the average of the three EU member states with the lowest inflation. E) 2 percent inflation rate above the average of the three EU member states with the lowest inflation.