Average Variable Cost is
A. the per unit variable cost of production.
B. the per unit cost of production.
C. the addition to cost associated with one additional unit of output.
D. the per unit fixed cost of production.
Answer: A
Economics
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A hypothesis is an assertion that can be:
A) proven to be false. B) proven to be true. C) proven to be true or false. D) tested only in the normative sense.
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Which situation below would represent a shortage in the oil market?
A. quantity demanded is 5.2 million; quantity supplied is 5.1 million. B. market price $75.00 per barrel; equilibrium price $81.00 per barrel. C. market price $81.00 per barrel; equilibrium price $75.00 per barrel. D. quantity supplied this year is 25% greater than quantity supplied last year.
Economics