Increasing marginal returns are generally the result of
a. diseconomies of scale
b. increasing costs
c. specialization and division of labor
d. labor unions
e. technology
C
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Refer to Figure 4.1. The dominant strategy for Alvin is
A) Top B) Bottom C) both Top and Bottom D) Alvin does not have a dominant strategy.
If a demand curve shifts left, it implies
A) as a group, consumers are willing and able to pay less for the product. B) as a group, consumers are willing and able to pay more for the product. C) government has regulated how many people can purchase the product. D) the profit motive of the firms is making the price too high.
Planned consumption and planned investment are
a. the only important parts of aggregate expenditure in the U.S. economy. b. less important than government spending in the U.S. economy. c. two important components of aggregate expenditure. d. almost always equal.
Pure monopoly is able to exist because the firm's product is better than the substitutes that are available in the market
a. True b. False Indicate whether the statement is true or false