You read a story in the newspaper about the "economies of mass production." This means that
A. fixed cost is less at larger levels of production.
B. total cost is less at larger levels of production.
C. marginal cost is less at larger levels of production.
D. long-run average cost is less at larger levels of production.
Answer: D
You might also like to view...
Compared to consumption spending, investment historically has tended to be
A) stagnant. B) more variable. C) more stable. D) greater.
In the long run, an increase in the money supply
a. leaves prices and unemployment unchanged. b. raises prices and unemployment. c. raises prices and leaves unemployment unchanged. d. leaves prices unchanged and reduces unemployment.
An __________ is a curve that shows all the combinations of inputs that, when used in a technologically efficient way, will produce a certain level of output.
Fill in the blank(s) with the appropriate word(s).
A data set is a balanced panel if it _____.
A. consists of a sample of individuals, households, firms, cities, states, countries, or a variety of other units, taken at a given point in time B. consists of observations on a variable or several variables over time C. consists of data for each cross sectional units over the same time period D. consists of time-demeaned data for different cross sectional units