Under which conditions might diseconomies of scale result?
A. hampered coordination brought about by bureaucracy
B. increasing costs of inputs
C. the firm uses a large amount of indivisible inputs
D. both hampered coordination brought about by bureaucracy and increasing costs of inputs
Answer: D
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Changes in which of the following shifts the aggregate supply curve?
i. the price level ii. the money wage rate iii. potential GDP A) i only B) ii only C) iii only D) ii and iii E) i, ii, and iii
If a small percentage decrease in the price of chocolate causes a larger percentage decrease in the quantity supplied, the
A) demand for chocolate is elastic. B) demand for chocolate is inelastic. C) supply of chocolate is elastic. D) supply of chocolate is inelastic.
If the demand for labor is unchanged, population growth will increase the supply of labor and increase the equilibrium wage
Indicate whether the statement is true or false
A graph’s origin is the point of intersection of all lines or curves in the graph.
Answer the following statement true (T) or false (F)