A firm's total cost divided by its level of output is equal to its:
A. average total cost.
B. marginal cost.
C. variable cost.
D. start-up cost.
Answer: A
Economics
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Which of the following is not considered an economic resource?
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Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
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