Coordination problems in large firms might lead to:
A. horizontal marginal cost curves.
B. downward-sloping marginal cost curves.
C. upward-sloping short-run average cost curves.
D. upward-sloping long-run average cost curves.
Answer: D
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Long term contracts for inputs can lead to the slow adjustment of input prices in response to changes in aggregate demand
a. True b. False Indicate whether the statement is true or false
The amount of consumption in an economy depends:
a. Inversely on the level of saving b. Directly on the level of disposable income c. Inversely on the level of disposable income d. Directly on the rate of interest
The collapse of stock prices in September of 2008 was
A. totally irrational and unjustified by any fundamental determinants of stock values. B. the result of an elaborate conspiracy by greedy manipulators to ruin the Big Three automakers. C. an inescapable consequence of the rebound of 2006-2007. D. largely due to the sharply increased uncertainty regarding the strategically-critical financial sector.
According to the quantity theory of money, the growth rate of which of the following is zero?
A) money supply B) velocity C) real GDP D) price level