________: the point at which the marginal cost curve intersects that average total cost curve
Fill in the blank(s) with correct word
Break-even, or where profit is equal to zero
Economics
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In the Harrod-Domar growth model, if 12.5% of income is saved, the incremental capital output ratio is 2.5 and the rate of depreciation is 4%, what is the implied rate of growth?
What will be an ideal response?
Economics
The U.S. spent 3 percent of GDP building and maintaining the public infrastructure between 1950 and 1970 . Since 1980, that share has: a. decreased slightly to 2 percent
b. decreased all the way to zero. c. stayed constant at 3 percent. d. increased slightly to 4 percent. e. increased significantly to 8 percent.
Economics