When diseconomies of scale occur:
A. average fixed costs will rise.
B. marginal cost intersects average total cost.
C. the long-run average total cost curve rises.
D. the long-run average total cost curve falls.
Answer: C
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Indicate whether the statement is true or false
When compared to the demand curve for only one variable input, the demand curve for a factor input when several inputs are variable is
A) less elastic. B) more elastic. C) vertical. D) horizontal.
A decrease in consumer incomes will:
a. decrease the demand for an inferior good. b. decrease the supply of an inferior good. c. increase the demand for a normal good. d. do none of the above
If government spending is used to bolster the level of economic activity, the type of financing available to the U.S. government that would increase aggregate spending the most is
a. taxation. b. borrowing from the public. c. borrowing from banks. d. printing money.