If, when a firm doubles all its inputs, its average cost of production decreases, then production displays
A) diminishing returns.
B) economies of scale.
C) diseconomies of scale.
D) declining fixed costs.
Answer: B
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The figure above shows the market for college education in the United States. The efficient quantity of college education is ________ students per year
A) 10 million B) 12 million C) 17 million D) 18 million E) 14 million
Refer to Figure d, which illustrates a game played by Travis and Darren. Travis's dominant strategy is:
A. North.
B. South.
C. East.
D. West.
During periods of inflation, the general price level of goods and services in the economy rises
a. True b. False Indicate whether the statement is true or false
The process by which risks are shared among many different assets or people is called:
A. the credit risk. B. the risk spread. C. diversification. D. the liquidity process.