Table 13-20 Listed in the table are the long-run total costs for three different firms.
Firm B is experiencing constant returns to scale.
a. True
b. False
Ans: a. True
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Refer to the table above. If exports increase by $4,000 in the next year, ________, all other variables remaining unchanged
A) trade surplus will increase by $2,000 B) trade deficit will increase by $2,000 C) gross domestic product will increase by $4,000 D) gross domestic product will decrease by $4,000
What is the definition of the unemployment rate? How are part-time workers and discouraged workers treated when calculating the unemployment rate?
What will be an ideal response?
A unit tax has an advantage over an ad valorem tax in situations when _____
a. inflation is high b. it is easy to estimate the value of the good being taxed c. it is difficult to estimate the value of the good being taxed d. inflation is low
If Happy Cows, a dairy firm, merges with Best Cartons, a manufacturer of dairy cartons, the merger can alter the relationship between Happy Cows and Best Cartons from a(n) ________ to a(n) ________.
A) managerial relationship; partnership B) adversarial relationship; partnership C) partnership; adversarial relationship D) partnership; managerial relationship