External economies of scale will ________ average cost when output is ________ by ________
A) reduce; increased; the industry
B) reduce; increased; a firm
C) increase; increased; a firm
D) increase; increased; the industry
E) reduce; reduce; the industry
A
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A firm's long-run average cost curve is derived by adding together its short-run average total cost curves
Indicate whether the statement is true or false
What kind of relationship appears to actually exist, if one examines the actual data regarding the inflation rate and the unemployment rate for all years since 1953?
A) a direct relationship B) a one-to-one relationship C) an inverse relationship D) no relationship in the long run
In economics, the term "leisure" describes: a. the time spent searching for productive employment. b. any time spent not working for pay
c. any time spent working for extra pay. d. the time spent after permanent retirement from work.
If the inflation turns out to be higher than people have expected, then
What will be an ideal response?