Use the data in the table above and suppose that labor is the only variable factor of production. When 122 dozen donuts are produced at Decent Donuts, the AVC curve
A) has a negative slope.
B) has a positive slope.
C) is at its minimum point.
D) is at its maximum point.
B
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What did Robert Gilpin mean when he wrote that modern realists know little about international politics that Thucydides did not know in the fifth century BCE?
a. Compared to those times, the twentieth century had been a revolutionary period. b. The world still revolved around political ideologies, theories, and arguments. c. Much had changed, but the underlying nature of international politics had not changed. d. Modern realists had not advanced the body of knowledge in political science very much.
Economics is a science that: a. typically uses controlled experiments to learn about consumer and firm behavior
b. uses models that cannot be tested empirically due to the complex nature of the economy. c. explores how choices are made between conflicting wants and desires in a world of scarcity. d. relies entirely upon normative analysis.