Economies of scale implies that increases in the scale of operation are associated with
a. decreasing total cost
b. decreasing fixed cost
c. decreasing average total cost
d. increasing average total cost
e. decreasing average variable cost
C
You might also like to view...
Temporary Assistance to Needy Families is a government program with the goal of:
A. redistribution. B. economic growth. C. social insurance. D. None of these is true.
The demand curve for a good is horizontal when it is:
A. a unitary elastic good. B. a perfectly inelastic good. C. an inferior good. D. a perfectly elastic good.
If a union argues that a price cut will boost revenues of the firm and management argues that the opposite is true, then the price elasticity of demand is:
A. perfectly inelastic from the union's perspective and perfectly elastic from management's perspective. B. inelastic from the union's perspective; elastic from management's perspective. C. elastic from the union's perspective; inelastic from management's perspective. D. unit-elastic from the union's perspective and unit-inelastic from management's perspective.
When unemployed people stop looking for jobs, the
A. Unemployment rate decreases and the labor force increases. B. Unemployment rate decreases and the labor force decreases. C. Unemployment rate increases and the labor force decreases. D. Unemployment rate increases and the labor force increases.