An increase in production in the short run definitely results in an increase in
A. Average total costs.
B. Average fixed costs.
C. Total costs.
D. Marginal costs.
Answer: C
Economics
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Refer to Table 10-1. What is Keegan's optimal consumption bundle?
A) 5 pita wraps and 0 bubble teas B) 3 pita wraps and 4 bubble teas C) 3 pita wraps and 3 bubble teas D) 4 pita wraps and 2 bubble teas
Economics
Refer to Figure 10.8. Other things equal, a decrease in the nominal interest rate on money would best be represented by
A) a movement from point A to point C. B) a movement from point A to point D. C) a shift from LM1 to LM2. D) a shift from LM2 to LM1.
Economics