When one is considering costs of taking a trip in their car, the average cost per mile includes some items of cost that are not included in the marginal cost of a mile driven. This statement is
A. absurd because marginal costs do not apply to mileage costs.
B. always false.
C. always true.
D. sometimes true and sometimes false depending on the circumstances.
Answer: C
Economics
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If a country produces only two goods, it is possible to have an absolute advantage in the production of both goods
Indicate whether the statement is true or false
Economics
According to the quantity theory of money, if the long-run economic growth rate is 2.5%, by how much should the Fed increase the money supply if it wants inflation to be 2%?
A) 0.5% B) 1.25% C) 4.5% D) 5%
Economics