Multiple Choice
A decreasing-cost industry is characterized by:
A) more firms than an increasing-cost industry.
B) some type of economies of scale.
C) accounting profit net of the minimum return on invested capital demanded by the firm's investors.
D) some type of diseconomies of scale.
Correct Answer:
Verified
Correct Answer:
Verified
Q49: Producer surplus is:<br>A)always equal to zero for
Q50: Economic rent can be defined as:<br>A)always the
Q51: Which of the following is not
Q52: A perfectly competitive firm will always maximize
Q53: In a long-run perfectly competitive equilibrium,
Q55: An industry in which any potential entrant
Q56: For an individual firm operating in the
Q57: A new firm may incur a cost
Q58: Sunk costs do not affect the profit
Q59: For an entire perfectly competitive industry, in