The most important advantages of bigness will be found in industries that show increasing returns to scale.
Answer the following statement true (T) or false (F)
True
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Refer to Table 14-4. What is the Nash equilibrium in this game?
A) Alistair increases its advertising budget, but Baine does not. B) There is no Nash equilibrium. C) Both Alistair and Baine increase their advertising budgets. D) Baine increases its advertising budget, but Alistair does not.
If a firm sells more than the break-even quantity,
a. It will make a profit b. It will only cover the variable costs c. It will make a loss d. A firm is unable to sell above the break-even quantity
If nominal GDP in 2011 is greater than nominal GDP in 2010, the economy's real output of goods and services must have risen
a. True b. False Indicate whether the statement is true or false
If production involves increasing opportunity cost, then moving nearer the horizontal axis will increase the opportunity cost of
a. the good that is shown on the horizontal axis. b. the good that is shown on the vertical axis. c. both of the goods shown on the axes. d. neither of the goods shown on the axes.