In the long run a company that produces and sells organic tofu incurs total costs of $1,200 when output is 1,200 units and $1,650 when output is 1,400 units. The tofu company exhibits
a. diseconomies of scale because total cost is rising as output rises.
b. diseconomies of scale because average total cost is rising as output rises.
c. economies of scale because total cost is rising as output rises.
d. economies of scale because average total cost is falling as output rises.
b
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One of the principal factors behind the U.S. trade deficits of the 1990s has been
a. slow growth and recession in many important trading partners. b. rapid growth and inflation in many important trading partners. c. significant depreciation of the dollar. d. rising real interest rates in the United States.
At a price of $15, a firm sells 80 Blu-ray discs per day. If the slope of the demand curve is 0.10, marginal revenue is $5.
Answer the following statement true (T) or false (F)
Which auctioned good is more likely to have a common value across potential bidders?
A) a truckload of baseball memorabilia B) a Monet painting C) a customized car D) timber
Refer to the information provided in Figure 15.4 below to answer the question(s) that follow. 
Figure 15.4 Refer to Figure 15.4. Assume The Hand Made Shirt Shop has fixed costs of $75 and is a monopolistically competitive firm. If this firm is attempting to maximize profits, the firm's profit is
A. -$175. B. -$100. C. -$75. D. $0.