The decreasing portion of a firm's long run average cost curve is attributable to:
A. diminishing returns to scale.
B. increasing marginal cost.
C. economies of scale.
D. diseconomies of scale.
Answer: C
You might also like to view...
Which of the following is an example of using money as a store of value?
A) paying for a new dress with a credit card B) paying cash for a new automobile C) paying rent with a check on a demand deposit D) keeping $200 on hand for an emergency
Suppose the required reserve ratio is 20 percent. If banks are conservative and choose not to loan all of their excess reserves, the real-world deposit multiplier is
A) less than 5. B) equal to 5. C) greater than 5. D) equal to 20.
Excess reserves
A. Are loans made at above market interest rates B. Are reserves banks keep above the legal requirement C. Are reserves banks keep to meet the reserve requirement
Use the above figure. Which graph depicts a normal good?
A. A B. B C. C D. D