If a firm produces 10 units, TC=$100 . When the firm increase its output to 15 units, TC= $150 . The firm's AVC equal to

If a good has an absolute price elasticity of 0, the demand for the good is

A) unit elastic. B) inelastic. C) perfectly inelastic. D) elastic.

Suppose at a particular level of real gross domestic product (GDP), there are no unintended inventory adjustments. In this context, which of the following is true?

a. Real GDP is less than the equilibrium level of real GDP demanded. b. Real GDP is greater than the equilibrium level of real GDP demanded. c. Real GDP equals the equilibrium level of real GDP demanded d. At equilibrium real GDP, there is no inflation. e. At equilibrium real GDP, there is no saving.