In the above figure, the deadweight loss is zero if output is

You can invest $100,000 into either project A or B. You estimate that A would succeed with a probability of 0.6 in which case it doubles in value. If it fails, its scrap value is $50,000 . Project B would succeed with probability 0.7, in which case it would have a value of $150,000 . If it fails, project B's scrap value is $30,000 . Which project should you invest in

a. Project A b. Project B c. Neither of the projects d. You cannot tell from the information presented

Average fixed cost: a. declines continuously as output increases

b. is always greater than average variable cost. c. equals the difference between average total cost and average variable cost. d. is characterized by both (a) and (c).