Which of the following situations is NOT possible?
A) SAC and LAC are both increasing for some output levels.
B) SAC is increasing but LAC is decreasing for some output levels.
C) SAC is decreasing but LAC is increasing for some output levels.
D) SAC and LAC are both decreasing for some output levels.
E) All of the above are possible.
E
You might also like to view...
Suppose the demand for specialty car license plates is perfectly inelastic and the supply curve for specialty license plates is upward sloping. A tax is imposed on specialty license plates. Which of the following is true?
A) Drivers pay the smallest share of the tax. B) Drivers pay none of the tax. C) Drivers pay all of the tax. D) The government pays all of the tax. E) The government collects nothing in tax revenues.
Research in history and economic history shows that before 1880, significant federal participation in the markets of the American economy occurred
Indicate whether the statement is true or false