When Jitters Coffee Company, Inc, can lower the cost of packaging a pound of coffee by doubling the quantity packaged each day, it is achieving
A) economies of scale.
B) economies of scope.
C) economies of team production.
D) all of the above
A
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For supply-side inflation to occur in the long run
A) the long-run aggregate supply curve has to shift to the left. B) the aggregate demand curve has to shift to the left. C) the long-run aggregate supply curve has to shift to the right. D) the aggregate demand curve has to shift to the right.
A firm that generates zero economic profit usually has
A) negative business profit. B) zero business profit. C) positive business profit. D) business profit equal to half the total revenue.
A professor will sometimes pay higher prices for some goods compared to an undergraduate student because
a. They value the item more than the student b. They like wasting money c. crowded and understaffed discount stores impose higher time costs d. they like to show off
How much is the MPC?
