The concept of ___________ of scale means that as the scale of output goes up, average costs of production decline.
a. economies
b. focus
c. advantage
d. productivity
a. economies
Economics
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Which of the following market structures is most similar to perfect competition?
A) Monopsony. B) Monopolistic competition. C) Oligopoly. D) Monopoly.
Economics
What amount of money was appropriated by Congress for fiscal stimulus bill of 2009?
a. $225 billion b. $252 billion c. $700 billion d. $787 billion
Economics
All firms operating in a perfectly competitive market produce unique goods
a. True b. False Indicate whether the statement is true or false
Economics
Long-run increases in living standards, as measured by real GDP per person, are primarily the result of increases in:
A. government budget surpluses. B. the money supply. C. population. D. average labor productivity.
Economics