When a firm experiences constant returns to scale,
a. long-run average total cost is unchanged, even when output increases.
b. long-run marginal cost is greater than long-run average total cost.
c. long-run marginal cost is less than long-run average total cost.
d. the firm is likely to experience coordination problems.
a
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The marginal propensity to consume is calculated by dividing the change in consumer spending by the change in disposable income
a. True b. False Indicate whether the statement is true or false
The contemporary consensus with regard to stabilization policy is that
a. fiscal policy is, for now, the "only game in town." b. fiscal policy is more effective than monetary policy. c. monetary policy is, for now, the "only game in town." d. monetary policy is slightly more effective than fiscal policy.
The successful introduction and adoption of a new product or process is called
What will be an ideal response?
Joe is one mile from the finish of a grueling 26 mile marathon. Tim is at the four mile mark of a five mile run. Which runner is most likely to be emotionally energized for the race to the finish line?
A. Joe. B. Joe and Tim should be equally energized. C. Tim. D. Without knowing more about the runners there is no way to predict which runner will be most energized.