Which of the following would be included in a person's life-cycle wealth?

Refer to Table 9-11. Prior to trade, what was the opportunity cost to produce 1 hat in Denmark?

A) 1/6 of a clock B) 1/2 of a clock C) 2 clocks D) 6 clocks

At the point where marginal cost equals average variable cost,

a. b and c. b. marginal cost is rising. c. average total cost is at its minimum. d. average variable cost is falling. e. there is no total cost.