"Diseconomies of scale" occur in
A) the long run, but not the short run.
B) the short run, but not the long run.
C) both the short run and the long run.
D) neither the short run nor the long run.
A
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Classical economic theory predicted that in the long run the economy would experience:
a. below full unemployment. b. rising rate of inflation. c. full employment. d. idle factors of production.
Resources used in the production process
What will be an ideal response?
If population is expanding at the same rate as real output:
A. real per capita output will increase. B. real per capita output will decrease. C. real per capita output will remain unchanged. D. living standards will increase.
The problem with the strategy of achieving credibility through reputation is that
A. rules always have a lower cost than reputations in maintaining credibility. B. reputations lack any commitment. C. serious costs may be incurred during the period in which reputation is established. D. reputations are rarely credible.