If Marginal cost is lower than Average Cost (AC), average cost is

The cost of using a good for some specific period of time is called the ________ of the good

A) issue price B) rental price C) auction price D) market price

In the above figure, in order to promote an efficient allocation of resources, the government could grant a subsidy equal to

A) zero. B) $5 per unit. C) $10 per unit. D) $15 per unit.