If the average-total-cost of producing five units is $10, and the marginal-cost of producing the fifth unit is $10, then the average-total-cost curve is at its minimum at five units
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Javier can earn $80,000 a year working as a firefighter, or $78,000 a year working as a police officer. The probability of death from working as a firefighter is 1/2,000, and the probability of death from working as a police officer is 1/4,000
Using the compensating differential approach and the above information, what is the value of Javier's life?
The uncertainty and ambivalence surrounding government policies toward competition stems from
A) conflict between the goals of preserving competition and protecting competitors. B) the influence producers are able to exert on agencies charged with enforcing laws governing business practices. C) uncertainty about the actual effects of various measures intended to promote competition. D) all of the above. E) none of the above but from uncertainty about federal, state, or local jurisdiction.