A downward-sloping portion of a long-run average total cost curve is the result of

a. economies of scale.
b. diseconomies of scale.
c. diminishing returns.
d. the existence of fixed resources.


A

Economics

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Indicate whether the statement is true or false

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In Figure 1 above if the economy were at Y1 then we would expect there to be:

A. no change in inventories. B. an increase in inventories. C. a reduction in inventories. D. an increase in consumption spending.

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Answer the following statement true (T) or false (F)

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Refer to the information provided in Figure 2.4 below to answer the question(s) that follow. Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from

A. B to A. B. C to D. C. B to D. D. A to C.

Economics