When long-run average costs increase as output increases, there are
A) economies of scale.
B) diseconomies of scale.
C) constant returns to scale.
D) constant marginal costs.
B
You might also like to view...
Under the cartel, the individual firm's quantity is (assuming that it wants to cheat on its quota) 
Figure 42.2
A. Q1. B. Q2. C. Q3. D. Qb.
In the above figure, Brendan originally consumes at point A. If his income falls and compact discs are a normal good but haircuts are an inferior good then he will begin consuming at a point such as
A) B. B) E. C) F. D) G.
In the above figure, as Brendan's income falls his consumption bundle moves from point A to point E. This implies that for Brendan, compact discs are ________ good and haircuts are ________ good
A) a normal; an inferior B) a normal; a normal C) an inferior; an inferior D) an inferior; a normal
Holding other things constant, a depreciation of the US Dollar relative to the Kenyan Shilling would cause the demand for the Shilling to _____________ and the supply for Shilling to __________
a. Increase; decrease b. Increase, increase c. Decrease; Increase d. Decrease; Decrease