In the graph below LRTC = long-run total cost. The firm is experiencing:
A. Economies of scale
B. Diseconomies of scale
C. Constant returns to scale
D. Minimum efficient scale
A. Economies of scale
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Risk averse individuals will fully insure to avoid risk. ?
Answer the following statement true (T) or false (F)
The marginal propensity to consume is
a. the change in income divided by the change in consumption b. consumption spending divided by income c. income divided by consumption spending d. the change in consumption divided by the change in income e. the change in consumption divided by income
In the open-economy macroeconomic model, if a country's supply of loanable funds shifts right, then
a. net capital outflow rises, so the exchange rate rises. b. net capital outflow rises, so the exchange rate falls. c. net capital outflow falls, so the exchange rate rises. d. net capital outflow falls, so the exchange rate falls.
In efficient markets, profit opportunities are quickly eliminated as they develop.
Answer the following statement true (T) or false (F)