Diseconomies of scale exist over the range of output for which the long-run average cost curve is:
a. constant.
b. falling.
c. rising.
d. subject to diminishing returns.
c
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Refer to the scenario above. The opportunity cost of producing one pound of oranges in Beta is:
A) 1/2 pounds of apples. B) 5 pounds of apples. C) 2 pounds of apples. D) 1 pound of apples.
People who receive the benefit of a good without contributing to its costs of production are called
a. contributors in kind. b. free riders. c. frequent flyers. d. cost maximizers.
A rate of inflation that exceeds the growth rate of money for a country could be explained by:
A. a decreasing velocity of money. B. a growing real economy. C. a constant velocity of money. D. an increasing velocity of money.
The Bureau of Labor Statistics' "employed" category includes those who worked as paid employees, worked in their own business, or worked as unpaid workers in a family member's business
a. True b. False Indicate whether the statement is true or false