The smallest size plant size at which the long-run average cost curve is at its minimum is called the
A. minimum efficient scale.
B. shut down point.
C. envelope.
D. profit-maximizing scale of production.
Answer: A
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In which market type does one find the most advertising
A) monopolistic competition B) oligopoly C) perfect competition D) monopoly
The sum of the components of aggregate expenditure that are not influenced by real gdp is called?
A) autonomous consumption. B) the MPC. C) autonomous expenditures. D) induced expenditures.
What might happen to alligators in the south if the U.S. Fish and Wildlife Service were to reduce or eliminate the tags required to hunt alligators?
A. Over consumption, which could lead to less profit. B. Under consumption, which could lead to less profit. C. Under consumption, as hunters switch to a new animal to hunt. D. Over consumption, which could lead to extinction.
An externality exists when
A) there are private costs. B) there are internal costs. C) there are external costs. D) there are opportunity costs.