Long-run average total cost must always be
a. rising
b. declining
c. greater than or equal to the marginal unit of variable cost
d. greater than or equal to the short run average total cost
e. less than or equal to short-run average total cost
E
You might also like to view...
An import quota is the same as an import ban
Indicate whether the statement is true or false
The level of capital per person would increase if
A) the average saving rate were higher. B) the output-to-capital ratio increased. C) the depreciation rate increased. D) Both A and B.
In many cities, the market for cab services is monopolized. This monopoly arises because:
a. of economies of scale. b. of government restrictions on the entry of new firms. c. there is a limited space on the streets for taxis. d. it protects the consumers from unscrupulous drivers. e. of high fixed costs of entering the business.
What are the main features of the Robinson-Patman Act?
What will be an ideal response?