If the average total cost of producing 20 sweaters an hour falls when the firm doubles all its inputs, then the
A) short-run average total cost curve shifts upward because all inputs have increased.
B) firm moves along its short-run average total cost curve.
C) firm experiences economies of scale.
D) long-run average cost curve shifts downward.
C
You might also like to view...
In 1981, in San Francisco Solano, Argentina, about 1,800 families took over a piece of wasteland. The government was able to deed 60 percent of this land to some families while the remaining part could not be deeded. The resulting houses varied greatly, based on whether the residents received title. Those who received title also behaved differently, having fewer children, and the children
experienced more education and better health. This is an example of the results from: a. scarcity. b. economic growth. c. economic freedom. d. private property rights. e. improved quality of life.
A monopoly firm operates with declining marginal cost. If regulators impose marginal cost pricing, the market will
a. remain a monopoly but behave like a perfectly competitive industry. b. become perfectly competitive. c. be entered by additional firms but will not necessarily become perfectly competitive. d. be exited by the existing firm if the regulators will let the firm leave the market.
The Coase theorem suggests that taxes should be enacted to alleviate the effects of negative externalities
a. True b. False Indicate whether the statement is true or false
In a regression model, which of the following will be described using a binary variable?
A. Whether it rained on a particular day or it did not B. The volume of rainfall during a year C. The percentage of humidity in air on a particular day D. The concentration of dust particles in air