Average variable costs are minimized when:
A. marginal costs begin to increase.
B. marginal costs begin to decrease.
C. marginal cost is greater than average total cost.
D. marginal cost equals average variable cost.
Answer: D
Economics
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Oligopolies exist and do not attract new rivals because
A) of barriers to entry. B) there can be no product differentiation. C) of competition. D) the firms keep profits and prices so low that no rivals are attracted.
Economics
Last year a country's real GDP grew by 4%, it's inflation rate was 2.5%, and it's government budget deficit was about $250 billion. It's debt to GDP ratio was unchanged. About what was it's debt at the start of last year?
a. 16.7 trillion b. 10.0 trillion c. 6.25 trillion d. 3.85 trillion
Economics