Multiple Choice
Which of the following paired concepts are equivalent to each other?
A) constant costs; economies of scale
B) decreasing returns; decreasing costs
C) increasing returns; increasing costs
D) decreasing costs; economies of scale
E) increasing returns; diseconomies of scale
Correct Answer:

Verified
Correct Answer:
Verified
Q48: The principle of substitution plays a central
Q49: The figure below shows the isocost lines
Q50: Refer to Figure 8-6.At each of points
Q51: Consider a firm that uses only labour
Q52: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt=" FIGURE 8-4 -Refer
Q54: Economists collect and analyze data on output
Q55: Canada has a much lower population density
Q56: Consider a firm in the long run
Q57: A firm's long-run average cost curve<br>A)shows the
Q58: Refer to Figure 8-6.Suppose this firm is