Multiple Choice
Economies of scale
A) set in as soon as diminishing marginal physical productivity is experienced
B) are usually considered to be a phenomenon of the long run
C) are not always available in the short run
D) help ensure that industries will be competitive rather than monopolized
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Marginal costs and average variable costs are
Q3: Costs incurred only when production occurs are
Q4: Utility is the concept which is:<br>A)Objective<br>B)Subjective<br>C)Both<br>D)None
Q5: Change in utility resulting from one unit
Q6: The total product curve may initially show
Q7: If labour is the only variable resource
Q8: In economic theory the costs of a
Q9: Which of the following is irrelevant for
Q10: Diminishing marginal returns are most compatible with:<br>A)economies
Q11: Saturation point is the point where:<br>A)TU =