A(n) ________ in a firm's scale of production leads to ________ average total cost when there are economies of scale.
A. decrease; no change in
B. decrease; lower
C. increase; higher
D. increase; lower
Answer: D
You might also like to view...
Most of the increase in total money supply between 1860 and 1920 was due to:
a. sustained economic growth. b. the growth of bank deposits. c. an increase in greenbacks. d. new discoveries of gold and silver.
Airport security is best provided by public entities over private.
A. True B. False C. Uncertain
The overallocation of resources by society to a product means that the:
A. workers are not being paid adequate wages and salaries. B. marginal benefit is greater than the marginal cost. C. entrepreneurs are making too much profit in the economy. D. marginal cost is greater than the marginal benefit.
Growth in labor productivity in health care has been ________ the growth in labor productivity in the economy as a whole
A) approximately equal to B) slightly faster than C) almost twice as fast as D) less than half as fast as