Internal economies of scale occur at the ________ levels.
A. firm and industry
B. plant and firm
C. plant, firm, and industry
D. plant and industry
Answer: B
You might also like to view...
Demand-pull inflation starts with a shift of the
A) potential GDP line leftward. B) AD curve leftward. C) AS curve leftward. D) AS curve rightward. E) AD curve rightward.
The above table shows production combinations on a country's production possibilities frontier. What is the opportunity cost of increasing the production of X from 0 to 3 units?
A) 40 units of good Y per unit of good X B) 3 units of good Y per unit of good X C) 4/3 units of good Y per unit of good X D) 0 units of good Y per unit of good X
Because monopolistically competitive firms produce differentiated products, each firm
a. faces a demand curve that is horizontal. b. faces a demand curve that is vertical. c. has no control over product price. d. has some control over product price.
Quarterly demand and supply for the Petram Company is given by Qd = 1000 + 0.5M + 0.25A – 100P and Qs = -750 + 100P, where Q is quantity per quarter, P is price, M is income, and A is advertising expenditure. Suppose that A = 1000 and M =20,000, and answer the following questions.
A. What is the equilibrium price and quantity? B. What is the inverse demand?