What are the factors that cause a producer's average cost per unit to fall as output rises called?
(A) Licenses
(B) Franchises
(C) Patents
(D) Economies of scale
Ans: (D) Economies of scale
You might also like to view...
Comment on the following statement: "When a firm retains earnings for investment purposes, it is actually saving on behalf of its shareholders."
What will be an ideal response?
If Israel's domestic investment exceeds its national saving, then Israel has
a. positive net capital outflows and negative net exports. b. positive net capital outflows and positive net exports. c. negative net capital outflows and negative net exports. d. negative net capital outflows and positive net exports.
The cornerstone of antitrust policy in the United States is generally considered to be the Sherman Antitrust Act of 1890.
Answer the following statement true (T) or false (F)
Perfect substitutes have a constant _____
a. marginal propensity to consume b. marginal propensity to save c. marginal rate of substitution d. marginal rate of return