Americans spend more on goods produced in China than Chinese citizens spend on goods produced in the United States

If supply increases, the equilibrium price will rise and the equilibrium quantity will fall

a. True b. False Indicate whether the statement is true or false

Exhibit 6-9 Cost schedule for firm X OutputQuantity Total FixedCost Total VariableCost 0 $100 $    0 1   100     50 2   100     84 3   100   108 4   100   127 5   100   150 As shown in Exhibit 6-9, the average total cost of producing 5 units is:

A. $20. B. $30. C. $50. D. $250.