Economies and diseconomies of scale explain
A. the distinction between fixed and variable costs.
B. why the firm's short-run marginal cost curve cuts the short-run average variable cost curve at its minimum point.
C. why the firm's long-run average cost curve is U-shaped.
D. the profit-maximizing level of production.
C. why the firm's long-run average cost curve is U-shaped.
You might also like to view...
Macroeconomics is best described as the study of
A) the nation's economy as a whole. B) very large issues. C) the choices made by individual households, firms, and governments. D) the relationship between inflation and wage inequality.
Explain the difference between a tariff and a quota. What impact do tariffs and quotas have on the prices of domestic and imported goods?
What will be an ideal response?
A rise in the dollar price of the Chinese yuan signals an appreciation of the yuan and a depreciation of the dollar
Indicate whether the statement is true or false
One factor which brought on the recession of 2007-2009 was the financial crisis in 2008
Indicate whether the statement is true or false