Which of the following is NOT a reason for average costs to fall according to the learning curve?
A) Workers accomplish tasks more quickly after doing the task a few times.
B) Managers schedule more efficiently over time.
C) Engineers determine more accurately what tolerances can be used.
D) Suppliers may become better able to produce the exact inputs the firm needs.
E) Competing firms leave the industry as the learning firm becomes more efficient.
E
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At the minimum efficient scale
A) all possible economies of scale have not been exhausted. B) marginal cost is at its minimum. C) the firm has achieved the lowest possible average cost of production. D) any increases in the scale of operation will encounter further economies of scale.
The nominal interest rate is 7% and the real interest rate is 2.75%. What is the inflation rate?
A) 3.75% B) 4.55% C) 4.25% D) 9.75%
Banks earn a profit by offering loans at higher interest rates than they pay savers
a. True b. False Indicate whether the statement is true or false
When a nation's political environment is more favorable, it will:
a. attract more physical investment. b. encourage individuals to invest more heavily in human capital. c. encourage the development and efficient use of natural resources. d. do all of these.