The vertical distance between the total cost curve and the total variable cost curve ________ as output increases and the vertical distance between the average total cost curve and average variable cost curve ________ as output increases
A) is constant; decreases
B) decreases; is constant
C) increases; decreases
D) decreases; increases
E) decreases; decreases
A
Economics
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Suppose that Apple computer buys computer components for $10,000 and uses them to make ipods that they sell to Best Buy for $30,000 . Best Buy sells these ipods for $32,000 . As a result, GDP has risen by:
a. $22,000 b. $2,000 c. $20,000 d. $32,000
Economics
Refer to Scenario 10.7. Suppose that the firm chooses to produce 200 ink pads. At this level of output the demand for ink pads is
A) inelastic. B) unit elastic. C) elastic. D) unit elastic.
Economics