As Bubba's Bubble Gum Company adds workers while using the same amount of machinery, some workers may be underutilized because they have little work to do while waiting in line to use the machinery. When this occurs, Bubba's Bubble Gum Company encounters
a. economies of scale.
b. diseconomies of scale.
c. increasing marginal product.
d. diminishing marginal product.
d
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Economic growth is severely impeded in economies
A) with a lack of clear property rights. B) with high rates of convergence. C) which encourage induced innovation. D) with a strong market system.
In the table above, the deadweight loss is zero when ________ umbrellas are produced and sold
A) 20 B) 40 C) 60 D) 80
With the Bretton Woods system of international exchange rates
A) the value of a country's currency was determined strictly by the laws of supply and demand. B) the value of a country's currency was determined by its stock of gold. C) there were fixed exchange rates, and most countries were obligated to intervene to maintain the values of their currencies within 1 percent of par value. D) a nation's balance of payments was eliminated.
The purchase of the assets of one steelmaker by another steelmaker might be a violation of the
a. Clayton Act b. Federal Trade Commission Act c. Wheeler-Lea Act d. Celler-Kefauver Anti-Merger Act e. Robinson-Patman Act