Multiple Choice
When the long-run average cost curve is downward sloping,
A) economies of scale are present.
B) diseconomies of scale are present.
C) the average fixed cost curve must be upward sloping.
D) the firm experiences constant returns to scale.
E) The premise of the question is wrong because long-run average cost curves never slope downward.
Correct Answer:
Verified
Correct Answer:
Verified
Q76: When the marginal product is increasing as
Q77: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The table above
Q78: In the short run, a firm cannot
Q79: April quit her job as an accountant
Q80: Jay set up his hot dog stand
Q82: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -In the short
Q83: In the long run,<br>A) some resources are
Q84: Which of the following is an explicit
Q85: If marginal cost increases when output increases,
Q86: The short run is a time period