Which of the following does NOT represent a possible shape of the long-run average cost curve?
A) downward sloping
B) upward sloping
C) U-shaped
D) vertical
D
Economics
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Economists often find it worthwhile to make assumptions that do not necessarily describe the real world
a. True b. False Indicate whether the statement is true or false
Economics
The price of the average domestic good or service relative to the price of the average foreign good or service, when prices are expressed in terms of a common currency is called the ________ exchange rate.
A. fixed B. real C. flexible D. nominal
Economics