Which of the following conditions best explain the short-run economies of operation associated with production of an information product?
A) AVC slopes downward, and AFC is constant, so that ATC slopes downward.
B) AVC is constant, and AFC slopes downward, so that ATC slopes downward.
C) AFC is constant, and MC slopes downward, so that AVC slopes downward.
D) MC is constant, and MC slopes upward, so that AVC slopes upward.
B
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Which of the following is the objective of expansionary monetary policy?
a. An increase in employment. b. A decrease in employment. c. An increase in the velocity of money. d. An increase in prices proportional to the rise in the money supply.
A union wants to increase its members' wages without reducing employment. Which of the following strategies might achieve that goal?
a. setting a high minimum wage rate for its members b. increasing the number of members in the union c. pushing employers not to allow featherbedding of workers d. training its members to work more productively