As long as output increases
A. average total costs decrease.
B. average fixed costs decrease.
C. average variable costs decrease.
D. marginal costs decrease.
Answer: B
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In the short run, the price charged by a monopolistically competitive firm attempting to maximize profits:
A. must be less than ATC. B. must be more than ATC. C. may be either equal to ATC, less than ATC, or more than ATC. D. must be equal to ATC.
Investment, as a part of GDP, includes:
A. spending on productive inputs such as stocks, bonds, and other types of financial instruments. B. any goods that are bought by firms who plan to use those purchases to produce other goods and services in the future, rather than consuming them. C. consumption goods that are purchased by households. D. any item you buy that you are looking for a return on over time.