Sapp enjoyment - 5.positive and increasing 6 MC crosses AVC...

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1. for goods with many substitutes than for goods with only a few 2. both income and price inelastic 3. over time, firms that don't earn profits will have difficulty securing financing to survive 4.People's Bank hires two new tellers to meet increased demand for customer services
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Unformatted text preview: 5.positive and increasing 6. MC crosses AVC at AVC's minimum point 7.increasing and diminishing marginal returns 8. 0.075 variable and $450 fixed 9. $200,000....
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