When it is cheaper for one firm to produce a particular product, ____ exist(s)
a. economies of scale
b. economies of scope
c. diminishing marginal returns
d. cross-subsidization
a
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Which one of the following was the strategy followed by Japanese industrialists after World War II?
A. They sold low-priced goods to the low end of the American market while they rebuilt their industrial base. B. They charged Japanese consumers much lower prices than they charged American consumers, since Americans could afford to pay more for these goods. C. They sold high-priced goods to the high end of the American market, leaving the low end to Korea and Taiwan. D. They received tens of billions of dollars in aid from the U.S. government and have still not paid back a penny.
In the short run, a decrease in wage rates, ceteris paribus, shifts the
A) AD curve to the right, causing equilibrium price level to rise and equilibrium Real GDP to increase. B) AD curve to the left, causing equilibrium price level to fall and equilibrium Real GDP to decrease. C) SRAS curve to the right, causing equilibrium price level to fall and equilibrium Real GDP to increase. D) SRAS curve to the left, causing equilibrium price level to rise and equilibrium Real GDP to decrease.
An economist who studies the sales and profits of a large corporation would be classified as a(n)
A. macroeconomist. B. equity analyst. C. stock broker. D. microeconomist. E. social economist.
What is the risk-free interest rate?
What will be an ideal response?