Any price ______ will cause the firm to shut down production.
A. below the minimum of MC
B. above the maximum of AC
C. below the minimum of AC
D. between MC and AC
C. below the minimum of AC
Economics
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Real income can be determined by:
A. dividing the price level by nominal income. B. inflating nominal income for inflation. C. dividing the annual rate of inflation into the number "70." D. deflating nominal income for inflation.
Economics
The marginal value that a consumer places on the last unit can be read off of the
a. demand curve. b. supply curve. c. contract curve. d. production possibility curve.
Economics