When the firm increases output and the costs rise proportionately, then the long-run average cost curve is ________ and the firm is experiencing ________.
A. horizontal; constant returns to scale
B. downward sloping; constant returns to scale
C. upward sloping; diseconomies of scale
D. downward sloping; economies of scale
Answer: A
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A) shift rightward. B) shift leftward. C) remain unchanged. D) become steeper.
The flawed character cause of poverty refers to individual defects in aspiration or ability
Indicate whether the statement is true or false
The ___________ balance measures the gap between a country’s exports and its imports.
a. trade b. import c. export d. deficit
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