Which of the following is true if a firm has indivisible inputs?

A. The long-run average cost curve is downward sloping at lower levels of output.
B. The long-run fixed cost curve is downward sloping at lower levels of output.
C. The long-run total cost curve is downward sloping at lower levels of output.
D. The long-run marginal cost curve is downward sloping at lower levels of output.


Answer: A

Economics

You might also like to view...

Canada has a single-payer health care system in which the government provides national health insurance to all Canadian residents

Indicate whether the statement is true or false

Economics

What is marginal cost?

Economics

A 2% wage increase for teachers or police officers is:

a. usually offset by higher output per worker. b. leads to increases in municipal budgets. c. indicates that teachers and police have became more selfish. d. leads to more personalized service.

Economics

Recessions occur at irregular intervals and are almost impossible to predict with much accuracy

a. True b. False Indicate whether the statement is true or false

Economics