If as output increases average product increases, then ________
A) average total cost decreases
B) average fixed cost decreases
C) marginal cost decreases
D) average variable cost decreases
D
Economics
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Refer to Table 4-3. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the market price of Marko's polo shirts is $30, producer surplus is
A) $0. B) $16. C) $52. D) $68.
Economics
A movement along a supply curve is induced by a change in
A) input prices. B) taxes and subsidies. C) price expectations. D) the product's own price.
Economics