Autonomous consumption is consumption that:
a. varies directly with disposable income.
b. varies inversely with disposable income.
c. is independent of the level of disposable income.
d. is constant at first and then varies with disposable income.
c
Economics
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According to the shutdown rule, a firm should produce no output in the short run if
A) price is below minimum average total cost. B) price is above minimum average total cost. C) total revenues are lower than total fixed costs. D) price is below minimum average variable costs.
Economics
In the diagram, a shift from AS 1 to AS 2 might be caused by:
A. stricter government regulations.
B. an increase in the prices of imported resources.
C. a decrease in the prices of domestic resources.
D. an increase in business taxes.
Economics