If the substitution effect is always greater than the income effect, then an individual's labor supply curve will

A bakery that produces 100 loaves of bread has a variable cost of $50 and a fixed cost of $200. Calculate the total cost, average total cost, average variable cost, and average fixed cost of the bakery

What will be an ideal response?

The above figure shows the costs at Barney's Bagel Bakery. As the amount of output increases, the AVC curve approaches the ATC curve because the

A) TFC curve (not shown) slopes down. B) AFC curve (not shown) slopes down. C) MC curve is rising. D) AVC curve is rising.