Refer to the above figure. Which point or points represent(s) a short-run equilibrium?
A) A only
B) B only
C) C only
D) both A and B
C
Economics
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The circular flow is used to make the point that
A) unemployment only occurs during a recession. B) production generates income. C) rising prices never occur during times of unemployment. D) households purchase factors of production from firms.
Economics
What are the factors that cause a producer's average cost per unit to fall as output rises called?
(A) Licenses (B) Franchises (C) Patents (D) Economies of scale
Economics