As output increases, diseconomies of scale
a. lead to rising long-run average costs
b. lead to declining long-run average costs
c. lead to rising short-run average total costs
d. lead to declining short-run total cost
e. means the law of diminishing marginal returns is affecting production
A
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The investment function would shift inward to the left if
A) real disposable income decreased. B) there was an increase in business taxes. C) interest rates increased. D) there was a positive change in productive technology.
If it costs $8 to produce a certain product and the product sells for $9, then
a. the markup is approximately 11.1 percent b. the market for this product must be monopolistic c. the markup is $1 d. firms in this industry should shut down to minimize their losses e. the revenue gained from the last unit produced is $1
The desire to redistribute income more fairly was one of the major motivations for ______.
a. the Russian Revolution b. the American Revolution c. World War I d. World War II
Energy conservation is a shift in economic activities to make the use of energy less costly.
Answer the following statement true (T) or false (F)