If a firm's output doubles when all inputs are doubled, production is said to occur under conditions of
A) increasing returns to scale.
B) imperfect competition.
C) intra-industry equilibrium.
D) constant returns to scale
E) decreasing returns to scale.
D
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Which of the following would cause the consumption function to shift down?
a. A decrease in disposable income b. A decrease in taxes c. An increase in taxes d. An increase in the marginal propensity to consume e. None of the above
Which of the following does not affect the wages a worker earns?
a. natural ability b. effort c. chance d. All of the above affect the wages a worker earns.
Use the above table and assume a fixed cost of $1000. At an output of 1, marginal cost is
A. 0.
B. $200.
C. $300.
D. $400.
The largest mergers have been in the ___________ industry.
Fill in the blank(s) with the appropriate word(s).