Which of the following is determined by dividing the firm's total costs by the quantity of its output?
a. Implicit cost
b. Fixed cost
c. Variable cost
d. Average cost
d. Average cost
Average cost is determined by dividing the firm's total costs by the quantity of its output.
Economics
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The natural rate hypothesis states that the economy will self-correct back to the natural rate of unemployment, so that a move along a short run Phillips curve will not be permanent
a. True b. False Indicate whether the statement is true or false
Economics
As a result of the Great Recession, most financial markets hit bottom around
a. September 2008 b. March 2009 c. September 2009 d. March 2010
Economics