If a firm enlarges its factory size and realizes higher average costs of production then
a. it has experienced economies of scale.
b. it has experienced diseconomies of scale.
c. it has experienced constant returns to scale.
d. the long-run average cost curve slopes downward.
e. the long-run average cost curve shifts upward.
B
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Economic growth can be illustrated by an outward shift of the PPC
a. True b. False Indicate whether the statement is true or false
Answer the next question based on the information given in the following table.EmploymentTotal ProductProduct Price00$3112322233303436354036423If the firm is hiring workers under purely competitive conditions at a wage rate of $22, it will employ
A. 1 worker. B. 2 workers. C. 3 workers. D. 4 workers.
Monetary policy is conducted
A) only by the Federal Reserve. B) by the Federal Reserve and the President of the United States. C) by the Federal Reserve, the President of the United States, and Congress. D) by the Federal Reserve with veto power residing with the President of the United States.
Which of the following is NOT a benefit to an individual purchasing a mutual fund?
A) reduced risk B) lower transactions costs C) free-riding D) diversification