If the minimum points of all the possible short-run average total cost curves become successively lower as quantity of output increases, then:

a. there are economies of scale.
b. the firm is probably having significant management problems.
c. the firm should try to produce less output.
d. total fixed costs are constant along the LRAC curve.


a

Economics

You might also like to view...

Compare and contrast a general retail sales tax with a value added tax

What will be an ideal response?

Economics

Probabilities, which are based on past data or experience, are called

A) a priori. B) objective. C) uncertain. D) statistical.

Economics

The liquidity of an asset indicates: a. its buying power

b. the ease with which it can be converted into cash without a significant loss of value. c. the ease with which it can be converted into another asset. d. how likely people are to trade it internationally. e. its intrinsic value.

Economics

All of the following are methods of rationing goods EXCEPT

A) political power.
B) the profit motive.
C) first come, first served.
D) prices.

Economics