Diseconomies of scale is
A) a short-run phenomenon.
B) the result of decreasing marginal returns.
C) a long-run phenomenon.
D) the result of increasing marginal returns.
E) possible only when the firm's plant size is fixed.
C
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The expansion path for a homothetic production function:
a. is a straight line through the origin with a slope greater than one if w > v. b. is a straight line through the origin with a slope less than one if w < v . c. is a straight line through the origin though its slope cannot be determined by w and v alone. d. has a positive slope but is not necessarily a straight line.
In 2008 if the poverty line had been set lower, the poverty rate would have been ________.
Fill in the blank(s) with the appropriate word(s).
Refer to the table below. If demand decreased by 4 units at each price and supply decreased by 2 units at each price, what would the new equilibrium price and quantity be?
A. $3 and 5 units
B. $4 and 4 units
C. $5 and 5 units
D. $6 and 6 units
The Kyoto Protocol was signed by participating nations in
A) 2001. B) 1972. C) 1997. D) 2012.