Question 1

Economies of scale are created by greater efficiency of capital and by

Accepted Answer

A) longer chains of command in management. 
B) better wages for labor. 
C) smaller plant sizes. 
D) increased specialization of labor. 
A) longer chains of command in management. 
B) better wages for labor. 
C) smaller plant sizes. 
D) increased specialization of labor.

Question 2

Average fixed cost

Accepted Answer

A) does not change as total output increases or decreases. 
B) varies directly with total output. 
C) falls continuously as total output expands. 
D) rises as the output is expanded. 
A) does not change as total output increases or decreases. 
B) varies directly with total output. 
C) falls continuously as total output expands. 
D) rises as the output is expanded.

Economies of scale are created by greater efficiency of capital and by

Average fixed cost

Introduction

The Firm and Its Goals

Supply and Demand

Demand Elasticity

Demand Estimation and Forecasting Appendices 5A and 5B

The Theory and Estimation of Production Appendices 6A,6B,and 6C

Pricing and Output Decisions: Perfect Competition and Monopoly Appendices 8A and 8B

Pricing and Output Decisions: Monopolistic Competition and Oligopoly

Special Pricing Practices

Game Theory and Asymmetric Information

Capital Budgeting and Risk

The Multinational Corporation in a Global Setting

Government and Industry: Challenges and Opportunities for Todays Manager

The Global Soft Drink Industry

Filters

Exam 7: The Theory and Estimation of Cost Appendices 7A,7B,and 7C

Economies of scale are created by greater efficiency of capital and by

Average fixed cost

Introduction

The Firm and Its Goals

Supply and Demand

Demand Elasticity

Demand Estimation and Forecasting Appendices 5A and 5B

The Theory and Estimation of Production Appendices 6A,6B,and 6C

Pricing and Output Decisions: Perfect Competition and Monopoly Appendices 8A and 8B

Pricing and Output Decisions: Monopolistic Competition and Oligopoly

Special Pricing Practices

Game Theory and Asymmetric Information

Capital Budgeting and Risk

The Multinational Corporation in a Global Setting

Government and Industry: Challenges and Opportunities for Todays Manager

The Global Soft Drink Industry

Filters