Author Question: In a diagram with the total cost curve and the total variable cost curve, as output increases, the ... (Read 108 times)

DelorasTo · **on:** Jun 29, 2018

In a diagram with the total cost curve and the total variable cost curve, as output increases, the vertical distance between these two curves

A) is constant.
B) decreases.
C) increases.
D) gets smaller and then bigger again.

Question 2

Suppose that Tracy and Pat start a business. Because of a series of bad decisions by Tracy, the company goes bankrupt, owing a total of 50,000. Tracy is penniless and Pat is a millionaire.

If the company were organized as a partnership, Pat would be responsible for A) over 1 million of debt.
B) 50,000 of debt.
C) 25,000 of debt.
D) 0 of debt.