A firm that has the long-run cost curves shown in the graph below would be able to do or have the following, except:
A. Exploit economies of scale
B. Have an entry barrier protecting it from new entrants into the market
C. Serve an increasing share of the market at lower and lower unit costs
D. Attain lower unit costs by reducing its output level
D. Attain lower unit costs by reducing its output level
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The unattainable points in a production possibilities diagram are
A) the points outside the production possibilities frontier. B) the points of the horizontal and vertical intercepts. C) the points within the production possibilities frontier. D) the points along the production possibilities frontier.
Generally speaking, by 1860 which of the following groups could not vote in the U.S.?
a. white male citizens b. black males in New York and New England c. alien males in the agricultural Northwest d. white women in the North
Explain how a decrease in the interest rate will affect investment
A firm will shut down in the short run if, for all positive levels of output,
a. its losses exceed its fixed costs. b. its total revenue is less than its variable costs. c. the price of its product is less than its average variable cost. d. All of the above are correct.