The vertical distance between the average total cost （ATC） curve and average variable cost （AVC） curve:
A. Increases as output increases.
B. Decreases as output increases.
C. Remains constant as output increases.
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Use the following data to answer Questions 54 and 55.
The annual returns for FJWs common stock over the years 2005, 2004, 2005, and 2006 were 15%, 19%,-8%, and 14%.
What is the geometric meanUse the following data to answer Questions 54 and 55.
The annual returns for FJWs common stock over the years 2005, 2004, 2005, and 2006 were 15%, 19%,-8%, and 14%.
What is the geometric mean
A. 9.45%.
B. 14.21%.
C. It cannot be determined because the 2005 return is negative.
Two mutually exclusive events:
Always occur together.
B. Cannot occur together.
Can sometimes occur together.
Two events are said to be independent if the occurrence of one event:
A. Means that the second event cannot occur.
B. Means that the second event is certain to occur.
C. Does not affect the probability of the occurrence of the other event.
Which o f the following statements least accuratelydescribes the IRR and NPV methods？
A. The NPV tells how much the value of the firm has increased if you accept the project.
B. When evaluating independent projects,the IRR and NPV methods always yield the same accept/reject decisions.
C. When selecting between mutually exclusive projects,the project with the highest NPV should be accepted regardless of the sign of the NPV calculation.
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