When marginal cost is rising, what must happen to average variable cost?
a. It must be falling.
b. It must be rising.
c. It could be rising or falling.
d. It must be constant.
Ans: c. It could be rising or falling.
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In international finance, speculation involves: ยท
a. not being able to make a commitment to buy or sell. b. taking a risk by purchasing (or selling) a foreign currency asset,holding it in anticipation of a rate increase (decrease). c. simultaneously buying several currencies to ensure that at least one will rise in value. d. avoiding risk of loss by offsetting an obligation to buy a foreign currency by locking in a contract to sell it at the same time.
If knowing about one outcome does not help to predict another outcome, the outcomes are said to be ________
A) exclusive B) inclusive C) dependent D) independent