In a market with a fixed number of firms, as long as price is above average
a. variable cost, each firm's marginal-cost curve is its supply curve.
b. variable cost, each firm's average-total-cost curve is its supply curve.
c. total cost, each firm's marginal-cost curve is its supply curve.
d. total cost, each firm's average-total-cost curve is its supply curve.
a
Economics
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Based on the neoclassical theory of investment, which aspect of a booming economy helps to explain the procyclicality of investment?
A) Tax revenues are likely to be rising. B) The real interest rate is likely to be rising. C) Capital goods are becoming more expensive. D) Financing constraints are likely to be relaxed for many businesses.
Economics
Refer to the accompanying figure. The total utility of consuming two pizzas a week is:
A. 25 B. 75 C. 30 D. 55
Economics