Multiple Choice
Economies of scale are said to exist whenever:
A) the learning curve is upward-sloping.
B) increases in output bring about higher output.
C) increases in output bring about higher input prices.
D) the elasticity of total cost with respect to output is greater than 1.
E) the long-run average cost curve is downward-sloping.
Correct Answer:
Verified
Correct Answer:
Verified
Q38: If total cost is given by TC
Q39: If total cost is given by TC
Q40: An example of implicit costs is the:<br>A)
Q41: Average variable cost is equal to the:<br>A)
Q42: If price is below average total cost
Q44: The long-run average cost curve slopes downward
Q45: Down and Out Co.operates an executive placement
Q46: The long run is a time period
Q47: If total cost is given by TC
Q48: Where long-run average cost equals short-run average