The range of output over which a firm's average variable cost is decreasing is the same as the range over which its
A) marginal cost is increasing.
B) average fixed cost is decreasing.
C) average product is increasing.
D) average product is decreasing.
C
Economics
You might also like to view...
The stickiness of wages and prices will cause
A) changes in aggregate demand to have short-run effects on real GDP. B) changes in aggregate demand to have no short-run effects on real GDP. C) changes in aggregate demand to have long-run effects on real GDP. D) changes in aggregate demand to have both short-run and long-run effects on real GDP.
Economics
The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $4 per hour, how many hours of students' labor are unemployed?
A) 12,000 hours B) 9,000 hours C) 6,000 hours D) 0 hours
Economics