Increases in long-run average cost that result from output increases is
A. diseconomies of scale.
B. constant returns to scale.
C. the law of diminishing marginal product.
D. economies of scale.
Answer: A
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If there are 200 physicians per 100,000 population in the United States generally, but over 500 per 100,000 population in San Francisco,
A) physicians are not scarce in San Francisco. B) physicians particularly enjoy living and working in San Francisco, for financial and other reasons. C) residents of San Francisco necessarily need more medical services than the average American. D) there is a shortage of patients in San Francisco. E) there is a surplus of physicians in San Francisco.
How might the existence of federally funded programs for the poor reduce the amount of charitable giving?
What will be an ideal response?
Refer to Figure 13-4. What is the area that represents the total revenue made by the firm?
A) 0P0aQa B) 0P2cQa C) 0P1bQa D) 0P3dQa
If disposable income falls, consumption expenditure falls ________
A) by an amount that depends on the real interest rate B) so that planned expenditure remains constant C) by an amount smaller than the decrease in disposable income D) all of the above E) none of the above