Which of the following statements concerning the long - run average cost (lrac) curve is correct? a. the lrac curve is derived from a series of short-run marginal cost curves. b.the lrac curve represents the least-cost input combination of inputs for producing each level of output. c.as output increases, the amount of capital employed by the firm is held constant along the lrac curve. d.the short-run cost curve at the minimum point of the lrac curve represents the least-cost plant size for all levels of output.

Which of the following statements about brand names is true? brand names give the seller an incentive to provide consistently high-quality products and services in order to protect the reputation of the brand. brand names are always economically wasteful since they dupe consumers into buying more expensive goods and services that are no different from generic versions. it is always rational to prefer brand names over generic substitutes. read the following example and determine whether it illustrates a common critique or defense of advertising. musashi sees a commercial for a brand x clothing company that depicts the wearers of the clothes out having a good time with friends. although he doesn't particularly need new clothes, the commercial prompts him to buy a brand x t-shirt.

Sally is buying a home and the closing date is set for april 20th. the annual property taxes are $1,234.00 and have not been paid yet. using actual days, how much will the buyer be credited and the seller be debited

The questions of economics address which of the following ? check all that apply