The marginal-cost curve intersects the average-total-cost curve at the minimum point of the average-total-cost curve
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The cross-price elasticity between Gillette razors and a related good is -3.4. What happens to the demand for the related good if the price of Gillette razors falls by 10 percent?
A) The quantity demanded of the related good falls by 34 percent. B) The quantity demanded of the related good rises by 34 percent. C) The quantity demanded of the related good rises by 3.4 percent. D) The quantity demanded of the related good falls by 3.4 percent.
Economics
If by purchasing more apples and fewer oranges you increase your total utility, then apples must be cheaper than oranges
Indicate whether the statement is true or false
Economics