One reason that firms will experience increasing returns to scale is:
A. the law of diminishing marginal returns.
B. the specialization of inputs as scale increases.
C. there is some fixed input that isn't being taken into consideration.
D. large firms may be difficult to manage effectively.
B. the specialization of inputs as scale increases.
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In economics, the factor of production "land" includes all of the following EXCEPT
A) animals, birds, and fish. B) energy. C) wild plants. D) oil. E) plastics.
The people who support restricted international trade say that ______
A. protection saves jobs, in both the U.S. and foreign economies B. U.S. firms won't be able to compete with low-wage foreign labor if trade is free C. outsourcing sends jobs abroad, which brings diversification and makes our economy more stable D. protection is needed to enable U.S. firms to produce the things at which they have a comparative advantage
Refer to Table 2-19. What is Wilma's opportunity cost of making a statue?
A) 3 benches B) 1/3 of a bench C) 6/7 of a statue D) 1/2 of a bench
Describe the role of the President in the budgetary process prior to 1921 and the President's role in the budgetary process after 1921 . Explain why this change in process might have made sense
What will be an ideal response?