The "minimum efficient scale" of operation in an industry is defined as:
A) the smallest plant size that can be operated by firms in the industry.
B) the scale of operation at which economies of scale are exhausted.
C) the smallest number of firms that could effectively meet demand for an industry's output.
D) the scale of operation by firms in an industry that is least efficient.
B
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________ occurs when a firm cuts prices below production costs in a deliberate attempt to drive competitors out of business
A) Deliberate dumping B) Ravaging dumping C) Voracious dumping D) Predatory dumping
What is unemployment compensation?
What will be an ideal response?
Over the last ten years productivity grew faster in Mapoli than in Romeria while the population and total hours worked remained the same in both countries. It follows that
a. real GDP per person grew faster in Mapoli than in Romeria. b. real GDP per person must be higher in Mapoli than in Romeria. c. the standard of living must be higher in Mapoli than in Romeria. d. All of the above are correct.
From 2001 to 2015, the U.S. economy experienced three recessions.
Answer the following statement true (T) or false (F)