The marginal cost curve crosses the average total cost curve at
a. the efficient scale.
b. the minimum point on the average total cost curve.
c. a point where the marginal cost curve is rising.
d. All of the above are correct.
d
Economics
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Economists agree that
a. neither high inflation nor moderate inflation is very costly. b. both high and moderate inflation are quite costly. c. high inflation is costly, but they disagree about the costs of moderate inflation. d. moderate inflation is as costly as high inflation.
Economics
According to _________, profit "is the premium put upon successful innovation in capitalist society and is temporary by nature; it will vanish in the subsequent process of competition and adaptation."
Fill in the blank(s) with the appropriate word(s).
Economics