If minimum average cost is the same over a large range of output,
a. the market will evolve into a natural monopoly
b. minimum efficient scale is large as well
c. only a few large firms will survive in the long run
d. smaller firms have a cost advantage over larger firms
e. firms of varying sizes can coexist
E
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Which of the following statements is true?
A) Correlation can only arise when causation is not present. B) Causation can only arise when correlation is not present. C) Correlation arises when there is causation and can also arise even when there is no causation. D) Causation arises when there is correlation between two variables, and can also arise even when there is no correlation.
Describe the main provisions of the Maastricht Treaty of 1991
What will be an ideal response?
Banks acquire the funds that they use to purchase income-earning assets from such sources as
A) cash items in the process of collection. B) savings accounts. C) reserves. D) deposits at other banks.
The annuity factor ________ by the amount of the annual payment equals the ________ value of payments for the specified number of years at the specified discount rate.
A) multiplied; future B) divided; present C) divided; future D) multiplied; present