Which of the following statements are false?
a. b and d.
b. Marginal cost is always rising.
c. Marginal and average total costs are equal at the most efficient production level.
d. The AFC and AVC curves do not cross.
e. The AFC and ATC curves do not cross.
a
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If a Lorenz curve for income moves rightward and becomes more bowed out over time, then
A) the population is growing. B) income is growing. C) income is being more equally distributed. D) income is being more unequally distributed.
The government significantly raised farm incomes by raising farm prices by: (i) destroying crops, (ii) slaughtering millions of baby pigs and pregnant sows, (iii) paying farmers not to grow crops and (iv) injecting dye into harvested potatoes,
making them inedible. Indicate whether the statement is true or false