Which of the following is not correct for an individual firm?
a. If the average variable cost (AVC) is decreasing, average total cost (ATC) must be decreasing.
b. AVC reaches minimum before ATC.
c. If ATC is increasing, AVC must be increasing.
d. If AVC is increasing, marginal cost (MC) is increasing.
e. If average fixed cost (AFC) is decreasing, ATC must be decreasing.
e
Economics
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In the above figure, the monopsony wage rate is ________ and the quantity of labor is ________
A) $7.00; 150 hours B) $8.00; 200 hours C) $6.00; 100 hours D) $8.00; 100 hours
Economics
The branch of economic theory that analyzes decisions about education and training is
a. welfare economics. b. equilibrium analysis. c. human capital theory. d. consumption theory.
Economics