A. average fixed cost
B. average total cost
C. average variable cost
D. marginal cost
A. an increase in average total costs
B. diseconomies of scale
C. economies of scale
D. constant returns to scale
A. average total cost is falling
B. average total cost is raising
C. average total cost is maximized
D. average total cost is minimized
A. rent on the factory
B. wages paid to factory labor
C. interest payments on borrowed financial capital
D. payments on the lease for factory equipment
E. salaries paid to upper management
A. is liner (a straight line)
B. could be any of these answers
C. becomes steeper as the quantity of output increases
D. become flatter as the quantity of output increases.
A. accounting profit will exceed economic profit
B. economic profit will always be zero
C. economic profit will exceed accounting profit
D. accounting profit will always be zero
E. economic profit and accounting profit will be equal
A. Rs30,000
B. Rs35,000
C. Rs75,000
D. Rs70,000
A. implicit costs
B. variable costs
C. the sum of implicit and explicit costs.
D. explicit costs.
E. marginal costs
A. lowest among the OECD countries
B. higher currently than it was in the 1960s and 1970s
C. is equivalent to Holland’s aid
D. None of the above statements is true
A. decreasing autonomy of the nation-state involves
B. the increasing international integration of markets for goods services and capital
C. changes of a traditional culture of a country to a western culture
D. giving aid to poor countries to improve their economy politics and social status