Multiple Choice
If the demand for flat screen television sets is rising while at the same time the price of a flat screen TV is falling, there is evidence of:
A) economies of scale.
B) diseconomies of scale.
C) constant returns to scale.
D) diminishing marginal product.
Correct Answer:

Verified
Correct Answer:
Verified
Q23: If labor costs $10 per unit and
Q24: The standard long-run model assumes that:<br>A) technology
Q25: The graph shown exhibits constant returns to
Q26: At the minimum efficient level of production:<br>A)
Q27: In the long run:<br>A) all inputs are
Q29: Refer to the graph shown. The marginal
Q30: Given that there are significant economies of
Q31: Technical efficiency in production means a given
Q32: The long-run average total cost curve is
Q33: An entrepreneur probably will start a business