Which cost curve is continually falling as output increases?
a. the average total cost curve
b. the total cost curve
c. the average variable cost curve
d. the average fixed cost curve
Ans: d. the average fixed cost curve
Economics
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The consumption function shifted upward from 1960 to 2013 because as economic growth brought ________ expected future income and ________ wealth, people chose to ________ their consumption expenditure from a given level of income
A) higher; greater; decrease B) lower; greater; increase C) higher; less; increase D) higher; greater; increase E) higher; less; decrease
Economics
Why does a typical monopolistically competitive firm face a downward-sloping demand curve?
Economics