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Author Question: Specializing on the basis of marginal cost of production and trading allows both parties to consume ... (Read 74 times)

BRWH

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on: Jun 30, 2018
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

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Reply #1 on: Jun 30, 2018
Answer to Question 1

T

Answer to Question 2

e


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