Biology Forums - Study Force

The change in total costs when output changes is called
 A) average variable costs.
  B) marginal product.
  C) average total cost.
  D) marginal cost.

QUESTION 2

Researchers have found numerous significant relationships between final prices agreed upon by bargainers and their personal characteristics such as education, income, and age.
  Indicate whether the statement is true or false

QUESTION 3

Average total costs are defined as
 A) total costs divided by the change in output.
  B) total costs divided by output.
  C) the change in total costs when output changes.
  D) average variable costs plus marginal costs.

QUESTION 4

The difference between the buyer's opportunity cost and the seller's valuation defines the zone of agreement in which the agreement will benefit both parties.
  Indicate whether the statement is true or false

QUESTION 5

After the point of diminishing marginal returns
 A) marginal product rises.
  B) production should stop.
  C) marginal product falls.
  D) marginal product shifts from negative to positive.

QUESTION 6

When parties are risk averse, cases with more at stake are less likely to settle outside court.
  Indicate whether the statement is true or false

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