Economies of scale exist as a firm increases its size in the long run because of all of the following except

A) the firm can afford more sophisticated technology in production.
B) labor and management can specialize even further in their tasks.
C) as a larger input buyer, the firm can purchase inputs at a lower per unit cost.
D) as a firm expands its production, its profit margin per-unit of output increases.


Answer: D

Economics

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A) OLS estimate of the slope the same. B) OLS estimate of the intercept the same. C) regression R2 the same. D) variance of the OLS estimators the same.

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Bennie's Top Factory produces 1,000 tops per day for a total daily revenue of $2,000 . Bennie's total costs would rise by $2 if it produced the 1,001st top. Because marginal revenue and price are equal and constant,

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When private ownership rights are well-defined and enforced, owners of physical assets and resources will have an incentive to do which of the following?

What will be an ideal response?

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U.S. casinos serve about ________ people per year.

A. 5 million B. 76 million C. 250 million D. 1 million

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