Economies of scale exist whenever long-run average costs:
a. Increase as output is increased
b. Remain constant as output is increased
c. Decrease as output is increased
d. Decline and then rise as output is increased
e. None of the above
c
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When the Fed lowers the federal funds rate, which of the following economic variables responds most rapidly?
A) other short-term interest rates B) consumption expenditure C) the supply of loanable funds D) the long-term real interest rate E) the inflation rate
Financial futures contracts are regulated by
A) the Commodity Futures Trading Commission. B) the Federal Trade Commission. C) the Interstate Commerce Commission. D) the Options and Futures Commission.
The price of money is foregone interest earnings.
Answer the following statement true (T) or false (F)
Refer to Figure 16-5. Suppose the firm represented in the diagram decides to use a two-part pricing strategy such that it charges a fixed fee and a per-unit price equal to the monopoly price
What is the revenue collected from the fixed fee portion of the price? A) $10,240 B) $7,870 C) $2,560 D) $1,440