Buying electricity off the freewheeling grid at one quarter 'til the hour for delivery on the hour illustrates:

The long-run average cost curve is tangent to the minimum point of every short-run average total cost curve

a. True b. False

Between 1993 and 2001 the U.S. economy experienced

a. relatively low inflation and unemployment rates. b. relatively high inflation and unemployment rates. c. relatively low inflation rates and relatively high unemployment rates. d. relatively high inflation rates and relatively low unemployment rates.