An industry in which an increase in output leads to a reduction in long-run per-unit costs is a(n)
A) increasing-cost industry.
B) constant-cost industry.
C) break-even cost industry.
D) decreasing-cost industry.
D
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Scarcity exists because
A. of unlimited resources. B. human wants are enormous relative to the means available to satisfy them. C. production is limited only by technology and human energy. D. advertising creates unnatural desires for surplus goods.
Hyundai is a large South Korean company that produces finished steel products. Hyundai plans to buy raw steel from U.S. Steel. As a result, the
A) demand curve for U.S. Dollars shifts rightward. B) demand curve for U.S. Dollars shifts leftward. C) demand curve for South Korean Won shifts rightward. D) demand curve for South Korean Won shifts leftward.
If the coupon payment on a bond is $350 and the coupon rate is 7%, then what is the face value of the bond?
A. $5,000 B. $374.50 C. $24.50 D. $528.57 E. There is not enough information provided to answer this question.
With economies of scale came
A) larger families. B) simpler business forms. C) the need for management structures beyond what a family could offer. D) fewer economies of scope.