If significant economies of scale are present, large firms will be much more efficient producers than small firms.
Answer the following statement true (T) or false (F)
True
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Analysis that aims at determining only the economic consequences of a particular policy is called ________ analysis.
A. fiscal B. normative C. monetary D. positive
All of the following are explanations of the post-1973 productivity slowdown except
A) problems in measuring productivity. B) changes in the legal and human environment. C) higher oil prices. D) greater competition from foreign imports.
Figure 7-6
Which of the lines in Figure 7-6 represents a typical average fixed cost curve?
A. 1 B. 2 C. 3 D. 4
The monopolistic competition market structure is characterized by a few large firms which account for a large percentage of industry sales
a. True b. False Indicate whether the statement is true or false