If a firm experiences economies of scale, the average total cost of production increases as output expands
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Which of the following persons would be considered unemployed?
a. A house wife b. A 15-year-old looking for summer employment c. A person who worked more than 20 hours in a family-owned business d. A recent college graduate looking for her first job e. A full-time student
The relationship between quantity supplied and the price of output is such that
A. an increase in quantity will automatically lead to a reduction in price. B. an increase in price will lead to an increase in quantity supplied. C. quantity will decrease as the number of firms increases. D. an increase in price will produce an inward shift in the supply curve.
Dumping typically occurs as long as the foreign producer sells its output at a price
A. below its average total costs but above its average variable costs. B. above its average fixed costs but below its total variable costs. C. above its total costs. D. below its average variable costs.
Coins in people's pockets and purses are:
A. included in M1 but not in M2. B. included both in M1 and in M2. C. included in M2 but not in M1. D. excluded from M1 and M2 because people can exchange them for Federal Reserve notes.