What is an efficient way to study for an economics exam?
A) Attend every lecture and take copious notes.
B) Read the assigned material once before each class and once after.
C) Form study sessions with others in class.
D) Put off everything and instead cram the night before the exam.
E) Any of the above might be efficient, depending on one's perceived costs and benefits.
E
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Other things equal, when the price of a good falls, the
a. quantity supplied of the good increases. b. supply decreases. c. quantity supplied of the good decreases. d. demand increases.
When plotting marginal and average cost curves, the ________ cost curve always crosses the ________ cost curve at its ________.
A. average variable; marginal; maximum B. average fixed; marginal; minimum C. marginal; average variable; maximum D. marginal; average total; minimum