A firm enters into a consent decree to avoid an even greater legal setback. If the terms of the consent decree effectively double the firm's fixed costs, then
a. marginal cost more than doubles
b. marginal cost doubles
c. marginal cost remains unchanged
d. average total cost remains unchanged
e. average variable cost doubles
C
Economics
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In examining two variables, we find that as one variable changes, the other changes. These variables are said to be
A) statistics. B) independent. C) casually related. D) correlated. E) significantly related.
Economics
Which of the following is not a reason why the prospects for the further expansion of developing country commodity exports are likely to be limited?
(a) Low income elasticities for these products. (b) Low likelihood of development of further synthetic substitutes. (c) Continued agricultural protection despite trade agreements. (d) Declining terms of trade.
Economics