Which of the following provides the best explanation for diseconomies of scale?
A. Increased specialization
B. Indivisible setup costs
C. Diminishing marginal productivity
D. Monitoring costs
Answer: D
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What mechanism assures that firms produce outputs that consumers actually desire?
A. governmental regulations on the mix of outputs B. altruism C. the desire for profit D. a desire to serve others without thought of reward E. All of the responses are correct.
Table 8-2 Price Quantity Total Cost$22 6$ 60 2010100 1816160 1621210 1428280? In Table 8-2, the profit-maximizing level of output is
A. 6 B. 10 C. 16 D. 21
Suppose A and B are complementary goods. Other things being equal, the demand curve for A will shift to the right when the price of B goes down
a. True b. False Indicate whether the statement is true or false
The strong demand for housing, rising housing prices, and a construction boom from 2000 to 2005 were a result of
a. market forces that were eventually cut short by the stock market crash of 2008. b. policy changes that had positive initial effects, but negative long-term effects. c. tightened mortgage lending standards that reduced the risks of obtaining a home mortgage. d. the rising interest rates of that period, which increased the demand for housing.