An industry in which an increase in output leads to a reduction in long-run per-unit costs is a(n)
A) increasing-cost industry.
B) constant-cost industry.
C) break-even cost industry.
D) decreasing-cost industry.
Answer: D
You might also like to view...
A cut in tax rates effects equilibrium real GDP through two channels: ________ disposable income and consumer spending, and ________ the size of the multiplier effect
A) increasing; increasing B) decreasing; decreasing C) decreasing; increasing D) increasing; decreasing
Which of the following statements is TRUE about a non-cooperative game?
A) When two players each have a dominant strategy, joint profits may not be maximized. B) When two players each have a dominant strategy, joint profits are maximized. C) When players use their best responses, joint profits are maximized. D) None of the above.
__________ rights refer to the range of laws, rules, and regulations that define rights for the use and transfer of resources
A) Individual B) Constitutional C) Property D) Economic E) none of the above
All else equal, an easy money policy in the United States tends to
A. increase American imports. B. increase the international value of the dollar. C. reduce the foreign demand for American dollars. D. increase an existing American trade deficit.