When a firm's output level is high,
a. AVC dominates ATC so ATC begins to rise more rapidly
b. AFC dominates ATC so AFC begins to rise more rapidly
c. AFC dominates AVC so AFC begins to rise more rapidly
d. ATC dominates MC so MC begins to fall more rapidly
e. AVC dominates MC so MC begins to fall more rapidly
A
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Judged by international standards, the national debt of the United States, in terms of its national debt as a percentage of GDP is
A) the highest among the developed nations. B) the lowest among the developed nations. C) above average among the developed nations. D) below average among the developed nations.
High interest rates might ________ purchasing a house or car but at the same time high interest rates might ________ saving
A) discourage; encourage B) discourage; discourage C) encourage; encourage D) encourage; discourage