The minimum points of the average variable cost and average total cost curves occur where
a. the marginal cost curve lies below the average variable cost and average total cost curves
b. the marginal cost curve intersects those curves
c. wages are the lowest
d. the slope of total cost is the smallest
e. the elasticity of demand is unitary
B
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In Figure 3-4 above, the shift from Ap0 to Ap1 could have been caused by a rise in net exports of
A) 180. B) 750. C) 120. D) 300.
Which of the following statements is not correct?
a. If a firm discriminates by paying short workers less than tall workers, the firm may be able to compete in the market if the firm's customers also prefer taller workers to shorter workers. b. If the government passes regulations that prevent shorter workers from working in higher paying jobs, taller workers may continue to earn higher wages than shorter workers. c. Government regulation that prohibits discrimination is economically necessary because market forces support discrimination. d. Competitive markets will eliminate discrimination in wages over time unless customer preferences also reflect discrimination and/or government intervention promotes discrimination.