When MC is rising, AVC
A. must be rising.
B. must be falling.
C. may be falling or rising.
D. will remain constant.
C. may be falling or rising.
Economics
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You are studying with a friend and your friend says "A budget line shows the various combinations of two goods that can be purchased with the buyer's income at current prices." Is your friend's assessment correct or not?
What will be an ideal response?
Economics
Money is
a. any asset that is convertible into cash. b. any asset with intrinsic value such as gold or silver. c. any asset widely accepted as a means of payment. d. anything that facilitates exchange. e. cash only.
Economics