Economies of scale are associated with:
A. zero setup costs.
B. the short run.
C. indivisible setup costs.
D. diminishing marginal productivity.
Answer: C
You might also like to view...
Refer to Figure 7.1. At what level of output does average total cost equal marginal cost?
A) Q2 B) Q3 C) Q4 D) Q5 E) none of the above
Your firm needs a private investigator and the best private eye in Santa Teresa is Kinsey Milhone. Her services are worth $30,000 to your firm but you do not want to pay her more than $10,000
You tell Kinsey that you cannot pay her more than $10,000 unless you get prior approval from the Board of Directors of your company, and, unfortunately, they just met and won't meet again for 6 months. This strategic move on your part gives you ________ flexibility and ________ bargaining power. A) less, less B) less, more C) more, less D) more, more
About how much of the tax is paid by the sellers?
A. 20 cents
B. 50 cents
C. $1
D. $1.80
The marginal product of labor
A. decreases as more capital is added to the production process. B. declines as more labor is added to the production process. C. equals the output produced per unit of labor employed. D. depends on the product price.