Consider the following statements when answering this question
I. A technology with increasing returns to scale will generate a long-run average cost curve that has economies of scale.
II. Diminishing returns determines the slope of the short-run marginal cost curve, whereas returns to scale determine the slope of the long-run marginal cost curve.
A) I is true, and II is false.
B) I is false, and II is true.
C) Both I and II are true.
D) Both I and II are false.
C
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Refer to the scenario above. In this game, the dominant strategy equilibrium occurs if ________
A) Firm A chooses Strategy Y, and Firm B chooses Strategy X B) Firm B chooses Strategy Y, and Firm B chooses Strategy X C) Both Firm A and Firm B choose Strategy X D) Both Firm A and Firm B choose Strategy Y
How do we calculate the effects of real GDP on consumption expenditure and imports by using the marginal propensity to consume and the marginal propensity to import?
What will be an ideal response?
Municipal bonds
A. are issued by state and local governments. B. pay interest that is fully taxable. C. are issued by corporations. D. are issued by the federal government.
Which of the above diagrams illustrate(s) the effect of a decline in the price of personal computers on the market for computer software?
A. A only B. B only C. A and D D. D only