In the figure above, a firm is operating at point A on the graph. At point A, the firm's average cost curve
A) has negative slope.
B) has positive slope.
C) is horizontal.
D) is vertical.
C
Economics
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Keynesians disagree with the new classical model because
a. people are often irrational. b. wages are often negotiated through contracts, not auctions. c. people do not form expectations. d. wages are set to clear auction markets in both the short run and long run. e. all of the above
Economics
Price ceilings and price floors cause a loss in allocative efficiency
a. True b. False Indicate whether the statement is true or false
Economics