In 2012, Trailblazer Bicycle Company produced a mountain bike that was delivered to a retail outlet in November 2012. The bicycle was sold to E.Z. Ryder in March 2013. This bicycle is counted as:
A. consumption in 2012 and as negative investment in 2013.
B. negative investment in 2012 and as consumption in 2013.
C. negative investment in 2012 and as investment in 2013.
D. investment in 2012 and as negative investment in 2013.
D. investment in 2012 and as negative investment in 2013.
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When the total external and internal costs of a transaction are taken into consideration, this is known as
A) public costs. B) average total costs. C) social costs. D) marginal costs.
Joe's Garage operates in a perfectly competitive market. At the point where marginal cost equals marginal revenue, ATC = $20, AVC = $15, and the price per unit is $10 . In this situation,
a. Joe's Garage will break even b. Joe's Garage will shut down immediately c. the market price will fall in the long run d. Joe's supply curve will shift to the left e. Joe's Garage will suffer a loss in the short run, but stay in business