If the marginal cost is less than average total cost, average total cost will decrease
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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A student bought a used car for $10,000 and resold it one year later for $6,500 . Insurance, license, and operating costs for the year were $1,500 . What was his economic cost of owning and operating the car for the year if the market rate of interest was 10 percent?
a. $3,500 b. $5,000 c. $6,000 d. $8,500
Economics
Which of the following are determinants of differences in income?
A) age B) marginal productivity C) discrimination D) all of the above
Economics