If a firm's long-run average cost curve is rising, it is experiencing:

a. a constant return to scale.
b. economies of scale.
c. diseconomies of scale.
d. none of these.


c

Economics

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The quantity demanded of a good is:

A) the amount of a good that sellers are willing to supply at a given market price. B) determined independent of the market price. C) always determined by government intervention. D) the amount of a good that buyers are willing to purchase at a given market price.

Economics

If a marginal cost pricing rule is imposed on the firm in the figure above, the firm will produce

A) 5 units. B) 20 units. C) 30 units. D) 40 units.

Economics

Taxes on sales of liquor, tobacco, and tires are examples of

a. direct taxes. b. excise taxes. c. progressive taxation. d. loopholes.

Economics

The legislation which outlawed tying contracts was the:

A. Sherman Act. B. Clayton Act. C. Robinson-Patman Act. D. Celler-Kefauver Act.

Economics