A variety of fuels can be used to generate electricity. Considering only the availability of the fuel and not the cost of converting it into electricity, which of the following fuels is most scarce?
a. wind power
b. solar energy
c. fossil fuel
d. hydro-power
c
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To improve package delivery, one change UPS made involved taking better account of weather forecasts to avoid delays in flying packages. This is an example of
A) positive technological change. B) diseconomies of scale. C) increasing marginal returns. D) a reduction in fixed costs.
Decreasing returns to scale may occur as increasing the amount of inputs used
A) increases specialization. B) always increases the amount of output produced. C) may cause coordination difficulties. D) increases efficiency.
For a monopolistically competitive firm, which of the following is ensured by product differentiation?
a. Long-run profit b. Market power c. Economies of scale d. Increasing returns to scale
The theory of liquidity preference was developed by Irving Fisher
Indicate whether the statement is true or false a. True b. False