A curve showing the lowest cost at which a firm is able to produce a given level of output in the long run is
A) a long-run average total cost curve. B) a minimum efficient scale curve.
C) a long-run production function. D) a long-run marginal cost curve.
A
You might also like to view...
Professional football players receive, on average, higher wages than professional soccer players in the United States because
A) football is a more dangerous sport. B) professional football teams can draw huge crowds and charge high prices for tickets. C) professional football teams use a draft system. D) the soccer season is longer and so players will be unemployed for a smaller portion of the year.
During the postwar period, the portion of total employment declined in the ______ sector
a. agricultural b. manufacturing c. mining d. construction e. All of the above.
In the forex, the demand for dollars will increase if:
A. foreigners wish to buy U.S. goods. B. foreigners wish to sell U.S. financial assets. C. interest rates are lower in the U.S. relative to interest rates abroad. D. interest rates are equal in the US and abroad.
The concept of the monetary policy rule is based on the assumption that:
A. discretionary fiscal policy crowds out investment spending. B. the natural rate of unemployment is constant in the long run. C. monetary policy lags are shorter than fiscal policy lags. D. the velocity of money is constant in the short run.