When we say that trade is roundabout we mean that
a. people sometimes trade goods for goods.
b. trades require a double coincidence of wants.
c. currency is accepted primarily to make further trades.
d. people must spend time searching for the products they wish to purchase.
c
Economics
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________: specific form of current production costs that do not vary with the level of output or input use
Fill in the blank(s) with correct word
Economics
You observe that at your current production of lunch boxes, the average total cost of producing lunch boxes is $5 and the marginal cost of producing lunch boxes is $2. What should always happen if you increase lunch box production?
A. Marginal cost will rise. B. Marginal cost will fall. C. Average total cost will rise. D. Average total cost will fall.
Economics