If marginal cost is greater than average total cost, average total cost:
A. is falling.
B. is rising.
C. will not change.
D. is minimized.
Answer: B
Economics
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Explain how an economy can experience long-run economic growth and deflation at the same time
What will be an ideal response?
Economics
The government establishes the rules of the game for economic transactions in order to
A. Encourage spillover costs. B. Discourage the ownership of property. C. Legitimatize and enforce contracts. D. Discourage the production of capital.
Economics