The change in total cost resulting from a one-unit increase in production is called:
a. average fixed cost

If the nominal interest rate is 4 percent and the real interest rate is 7 percent, then the inflation rate is

a. -3 percent. b. 0.75 percent. c. 3 percent. d. 11 percent.

When the average physical product is falling

A) average variable costs are rising. B) average fixed costs are rising. C) total costs are falling. D) average variable costs are falling.