If marginal cost exceeds average variable cost,
a. average variable cost is negative
b. average variable cost is increasing
c. marginal cost is greater than average total cost
d. average variable cost is decreasing
e. average fixed cost is increasing
B
Economics
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In the above figure, CBL is the cost of breaking the law. If the good in the figure is made illegal and penalties are imposed on both buyers and sellers, then its price per unit
A) will be higher than if it was not illegal. B) will be lower than if it was not illegal. C) will be the same as when it was not illegal. D) cannot be compared with its price when it was legal.
Economics
If the saving rate is 1 (i.e., s = 1), we know that
A) K/N will be at its highest level. B) Y/N will be at its highest level. C) C/N = 0. D) all of the above
Economics