If marginal costs are constant what will the average variable cost curve look like? What about the average total cost curve?
What will be an ideal response?
The average variable cost curve will coincide with the average variable cost. The average total cost curve will slope downward but will not be U-shaped.
Economics
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In a closed economy firms sell goods and services to:
A) households and foreigners. B) households and the government. C) just the government. D) none of the above.
Economics
Which of the following losses to an individual would an insurance company NOT cover?
A) The person's automobile is stolen. B) Fire destroys the person's home. C) The person's father dies. D) The person's country is invaded.
Economics