If, when a firm doubles all its inputs, its average cost of production increases, then production displays
A) economies of scale. B) diminishing returns.
C) diseconomies of scale. D) declining fixed costs.
C
Economics
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For deflation to occur,
A) national income must decrease. B) real GDP must decrease. C) the price level must decrease. D) nominal GDP must decrease.
Economics
Explain why exchange rate model based on PPP is a long run theory
What will be an ideal response?
Economics
Because it is a machine, a personal computer should be treated as a fixed input in the typical firm's short-run production function
Indicate whether the statement is true or false
Economics
After a shift in the aggregate demand curve, which variable adjusts to restore general equilibrium?
A) price level B) real interest rate C) consumption spending D) investment spending
Economics