If a firm's long-run average cost is $4 and when output increases long-run average cost decreases to $3, the firm is experiencing ________.
A) economies of scale
B) constant returns to scale
C) diseconomies of scale
D) a shift in its long-run average cost curve
A) economies of scale
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The cranial capacity of Homo erectus is:
A. within the range of apes B. within the lower range of variation of modern humans C. the same as modern humans D. greater than the average for modern humans
Tomato growing on large farms in California today is characterized by
A) high yields per acre. B) mechanization of harvesting. C) corporate ownership of land. D) breeding tomatoes for ease of commercial processing. E) all of the above.
The plan of the entire universe was viewed as
a. the binomial system. b. natural selection. c. uniformitarianism. d. God's design. e. Lamarckism.
Market exchange systems require _____
a. heavy face-to-face contact b. a non-standardized currency c. a complex division of labor d. only a small amount of surplus production e. high amounts of status and prestige