The firm's marginal costs are equal to average total cost somewhere between units:
The following data show the relationship between total costs and output in the short run.
A. 1 and 2
B. 2 and 3
C. 3 and 4
D. 4 and 5
C. 3 and 4
Economics
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In the specificfactors model, an increase in the price of the manufactured good will cause:
a. a decrease in nominal wages in both the agricultural and manufacturing sectors. b. an increase in real wages in both the agricultural and manufacturing sectors. c. an increase in both nominal and real wages in both the agricultural and manufacturing sectors. d. an increase in nominal wages in both the agricultural and manufacturing sectors.
Economics
How are net exports, net factor payments from abroad, and the current account balance related?
What will be an ideal response?
Economics