The presence of a learning curve may induce a decision maker in a startup firm to choose
A) low levels of output to exploit economies of scale.
B) high levels of output to exploit economies of scale.
C) low levels of output to shift the average cost curve down over time.
D) high levels of output to shift the average cost curve down over time.
E) to produce more than one output.
D
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What happens in a duopoly if both firms try to act as the Stackelberg leader?
What will be an ideal response?
Which of the following would not be part of a person's wealth?
a. a $100,000 inheritance b. $100,000 in a savings account c. $100,000 of corporate stock d. a $100,000 mortgage on a home e. a $10,000 family car
The price elasticity of supply for the Hope Diamond is zero because there is only one. Therefore, the supply curve for the Hope Diamond is
A. perfectly inelastic. B. unit elastic. C. elastic. D. perfectly elastic.
Refer to the graph below. Stagflation in the short run is best represented as resulting from a shift of:
A. AD1 to AD2 given a stable AS1 curve
B. AD2 to AD1 given a stable AS1 curve
C. AS1 to AS2 given a stable AD1 curve
D. AS2 to AS1 given a stable AD1 curve