The irregular and largely unpredictable fluctuations in economic activity are called

Assuming fixed costs are positive, over a range of output in which average total costs were constant,

a. average variable costs would be constant as output increases. b. average variable costs would be falling as output increases. c. average variable costs would be rising as output increases. d. marginal cost would be less than average variable cost.

For the economy as a whole, spending on advertising comprises about what percent of total firm revenue?

a. 0.5 b. 2 c. 10 d. 20