The quantity which a firm will supply in the short run
a. can be read from its average cost curve.
b. can be read from its average variable cost curve.
c. can be read from the firm's marginal cost curve above average variable cost.
d. is always zero above minimum average variable cost.
c
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Assuming all else equal, the ________, the lower the nominal interest rate
A) lower the inflation rate B) higher the inflation rate C) lower the income tax rates D) higher the income tax rates
We can say that a contract is able to prevent moral hazard when
A) it eliminates production inefficiencies due to moral hazard without shifting risk to risk-averse people. B) it eliminates production inefficiencies due to moral hazard without shifting risk to risk-loving people. C) it shifts risk to risk-loving people. D) it eliminates production inefficiencies due to moral hazard and shifts risk to risk-averse people.