After employing her last laborer, Rachel notices that her Average Product has decreased. True or False: Her marginal cost is greater than her average variable cost
Indicate whether the statement is true or false
True . The decrease in average product indicates an increase in average variable cost. The average variable cost rises when the marginal cost is greater than the AVC.
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If a macroeconomist studying the causes of unemployment asserts that a particular change in technology will cause the rate of unemployment to decrease by ten percent, then this macroeconomist is at which step in the process of developing an economic
model? A) Identify the endogenous variables. B) Develop a model. C) Compare the model with the data. D) Identify the exogenous variables. E) Conduct prediction and policy analysis.
A conglomerate merger:
A. can extend the line of products sold, extend the territories in which products are sold, or combine totally unrelated products. B. is defined as a merger involving two firms that previously had a buyer-seller relationship. C. is defined as a merger involving two firms producing the same or similar products and selling them in the same geographical market. D. is illegal, per se.