The U-shape of the average variable, average total, and marginal cost curves reflects
A) increasing marginal returns.
B) decreasing marginal returns.
C) both increasing and decreasing marginal returns.
D) decreasing marginal product.
E) the point that implicit costs become a smaller fraction of total cost as output increases.
C
Economics
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What would be the Nash equilibrium of this simultaneous game?
a. Boxing, boxing b. Ballet, ballet c. Boxing, ballet d. Both A&B
Economics
Shianne works in a government budgeting office. Her supervisor has ordered her to create a sample budget that makes cuts to discretionary spending. Where can she make cuts?
a. Medicare
b. disability programs for workers
c. Social Security
d. secretarial salaries
Economics