Author Question: Specializing on the basis of marginal cost of production and trading allows both parties to consume ... (Read 24 times)

BRWH

  • Hero Member
  • *****
  • Posts: 553
Specializing on the basis of marginal cost of production and trading allows both parties to consume more than their respective production sets would allow.
  Indicate whether the statement is true or false

Question 2

The marginal fixed cost of a firm:
 a. is a positive constant irrespective of output level.
  b. declines as output is increased because a fixed numerator is divided by an ever-growing denominator.
  c. generally increases as output is increased.
  d. is equal to average variable cost and average total cost at their minimum points.
  e. is always equal to zero and is therefore ignored by economists.



SamMuagrove

  • Sr. Member
  • ****
  • Posts: 312
Answer to Question 1

T

Answer to Question 2

e



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

For a complete list of videos, visit our video library