Regarding demand and supply, which of the following statements is NOT correct?

a. Demand and supply simultaneously determine equilibrium market price
b. Demand expresses intentions, but supply does not
c. Demand is a potential concept distinguished from the transactional even of "units sold"
d. Supply is more like scenario planning for operations than for actual production
e. all of the above statements are correct

b

Economics

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A firm's average variable cost is $60, its total fixed cost is $3,000, and its output is 600 units. Its average total cost is

A) less than $58. B) between $58 and $62. C) between $62 and $64. D) more than $64.

Economics