Diseconomies of scale are associated with:
a. a downward sloping long-run average total cost curve.
b. an upward sloping long-run average total cost curve.
c. a horizontal long-run average total cost curve
d. a vertical long-run average total cost curve.
b
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The table above shows Tom's total utility from milkshakes and sodas. A milkshake costs $2.00. What is the marginal utility per dollar spent when the eighth milkshake is purchased?
A) 32 units per dollar B) 20 units per dollar C) 16 units per dollar D) 10 units per dollar
The average total cost curve and the average variable cost curve grow closer as output increases because
a. the marginal cost of production intersects these curves at their minimum points b. in the long run all costs are variable c. the cost of labor dominates the cost of raw material inputs at high levels of output d. the total variable costs are constant e. the average fixed cost decreases as output increases
In 2008 ___________ had the highest annual expenditures on public and private schools per student.
A. Spain B. France C. United States D. Japan
The main purpose of HMOs and PPOs is to:
A. reduce health care costs for employers and their employees. B. reduce medical malpractice suits. C. enable groups of physicians to increase their fees. D. direct patients to specialists rather than to more expensive primary-care physicians.