Which of the following relationships implies that a firm's short-run cost function is linear?
A) MC = AC
B) MC = AVC
C) AC = AFC + AVC
D) MC > AC
B
Economics
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Suppose a Russian economist told you that since the fall of communism, the Russian income distribution has shifted to perfect inequality, you would know then (no need to calculate), that the Russian Gini coefficient is
a. 1 b. 0 c. 10 d. -1 e. infinite
Economics
Costs associated with economic growth include all of the following EXCEPT
A. improved health care. B. environmental pollution. C. psychological problems such as depression. D. urban congestion.
Economics