If a firm produces zero units of output,
a. total revenue equals zero
b. total cost equals zero
c. total cost will equal explicit costs
d. profit will equal zero
e. the firm will earn only a normal profit
A
Economics
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The range of output over which a firm's average variable cost is decreasing is the same as the range over which its
A) marginal cost is increasing. B) average fixed cost is decreasing. C) average product is increasing. D) average product is decreasing.
Economics
The major objective of the Federal Reserve System is to: a. make substantial profits for its member banks
b. help in generating stabilization policies for the economy. c. distribute paper money and coins to banks and retail stores. d. prevent closure (failure) of individual member banks.
Economics