When the long-run average total cost does not change as the level of output varies, there are constant returns to scale
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The various ways that vertical relationships can evade regulation include
a. tying the sale of a regulated good to a customer's choice of an unregulated good b. bundling regulated and unregulated goods c. preventing the exclusion of rival unregulated goods d. insuring tax rates are uniform across jurisdictions
The instructors at College A are regularly late for their office hours. Based on a theory presented in the textbook, we would predict that the gap between the ______________student tuition and ___________equilibrium tuition is ___________ at College A
A) lower; higher; small B) higher; lower; small C) lower; higher; large D) higher; lower; large
The rate of return on a bond is the
A. Annual interest payment. B. Federal funds rate. C. Discount rate. D. Yield.
If the poverty line is set too high, the official poverty rate will be
A. negative. B. higher than the true level. C. lower than the true level. D. unaffected by this problem.