If the marginal cost of the 5,000th unit is $0.06 and the average total cost of the 5,000th unit is $0.10:
A. total cost is falling.
B. average variable cost is falling.
C. average total cost is falling.
D. average fixed cost is rising.
Answer: C
Economics
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If the MPC = 0.80, the government purchases multiplier is
A) 2. B) 4. C) 5. D) 8.
Economics
Which of the following statements is TRUE about scarcity?
A) Both rich and poor people face the problem of scarcity. B) Scarcity exists only when supply is insufficient to meet demand. C) Scarcity exists only when a shortage exists. D) Scarcity can be eliminated when a country becomes richer.
Economics