24.
Which of the following is NOT a feature of a budget constraint?
Select one:
a. a budget constraint contains the combinations of two goods that a person can buy
b. a budget constraint contains the combinations of all goods that a person can buy
c. a budget constraint is the outer boundary of an opportunity set
d. all income is spent along the budget constraint
27. If average total costs at 51 units of output are greater than average total costs at 50 units of output, then which of the following is NOT true?
Select one:
a. average variable costs are increasing at 50 units
b. marginal costs are increasing at 50 units
c. average fixed costs are increasing at 50 units
d. marginal costs are greater than average total costs at 50 units
28. In the graph showing negative externalities, which of the following is true?
Select one:
a. the supply curve that only includes private costs will be to the left of the supply curve which includes social costs
b. the supply curve that only includes private costs will be to the right of the supply curve which includes social costs
c. the demand curve that only includes private costs will be to the left of the demand curve which includes social costs
d. the demand curve that only includes private costs will be to the right of the demand curve which includes social costs
24.
Which of the following is NOT a feature of a budget constraint?
Select one:
a. a budget constraint contains the combinations of two goods that a person can buy
b. a budget constraint contains the combinations of all goods that a person can buy
c. a budget constraint is the outer boundary of an opportunity set
d. all income is spent along the budget constraint
27. If average total costs at 51 units of output are greater than average total costs at 50 units of output, then which of the following is NOT true?
Select one:
a. average variable costs are increasing at 50 units
b. marginal costs are increasing at 50 units
c. average fixed costs are increasing at 50 units
d. marginal costs are greater than average total costs at 50 units
28. In the graph showing negative externalities, which of the following is true?
Select one:
a. the supply curve that only includes private costs will be to the left of the supply curve which includes social costs
b. the supply curve that only includes private costs will be to the right of the supply curve which includes social costs
c. the demand curve that only includes private costs will be to the left of the demand curve which includes social costs
d. the demand curve that only includes private costs will be to the right of the demand curve which includes social costs
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Related questions
| (TCO 3) The nondiscriminating pure monopolist must decrease price on all units of a product sold in order to sell more units. This explains why (Points : 3) |
there are barriers to entry in pure monopoly.
a monopoly has a perfectly elastic demand curve.
marginal revenue is less than average revenue.
total revenues are greater than total costs at the profit-maximizing level of output.
