Which of the following is associated with peaks in the business cycle?
a. Relatively high levels of unemployment.
b. Recessions
c. Relatively low levels of unemployment.
d. Both answers a. and b. above are correct.
c
Economics
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Consider the two economies of Lithasia and Barylia. Economic agents in Lithasia have coordination and incentive problems, while in Barylia social surplus is maximized
Which economic system does each of these economies most likely have? Explain your answer.
Economics
Refer to the information. The average fixed cost of 3 units of output is:
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question.
A. $13.33.
B. $12.50.
C. $40.
D. $18.50.
Economics