If a firm experiences increasing returns to scale at all levels of output:
a. the slope of its long-run total cost curve is everywhere negative
b. the slope of its short-run average cost curve is everywhere negative.
c. the slope of its long-run average total cost curve is everywhere negative.
d. the slope of its production function is everywhere negative.
c
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In the table above, how many jackets must Mark forgo for every dress he makes?
A) 2/3 of a jacket B) 1 jacket C) 24 dresses D) 16 jackets E) 1 1/2 jackets
The short-run supply curve for a perfectly competitive firm is its marginal cost curve
A) above the horizontal axis. B) above its shutdown point. C) below its shutdown point. D) everywhere.
If total costs are $18,000 for the year, and the firm has fixed costs of $12,000, what is the level of the firm's variable costs?
What will be an ideal response?
The SDR (Special Drawing Rights) is issued by the
A) IMF. B) Federal Reserve Bank. C) European Monetary System. D) World Bank.