Which of the following statements is true of the relationship between average and marginal costs?
a. The sum of the marginal cost of a good and its average cost is equal to the total cost of the good.
b. The marginal cost of a good is inversely proportional to its average cost.
c. The marginal cost of a good is equal to the first derivative of the average cost of the good
d. The average cost of a good is equal to the first derivative of the marginal cost of the good.
c
Economics
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Most of the major currencies have had a floating exchange rate system since
A) 1973. B) 1944. C) 1956. D) 1971.
Economics
Assume the exchange rate is allowed to fluctuate freely. Using the IS-LM-IP model, graphically illustrate and explain what effect monetary contraction will have on the domestic economy. In your graphs, clearly label all curves and equilibria
What will be an ideal response?
Economics