Multiple Choice
You would expect that your firm is experiencing a constant returns to scale if
A) Long run average costs increase with output
B) Long run average costs decrease with output
C) Long run average costs are constant with respect to output
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q33: Diminishing marginal productivity implies<br>A)decreasing marginal costs<br>B)increasing marginal
Q34: Once marginal costs rise above the average
Q35: What are economies of scope?<br>A)lower average costs
Q36: Marginal productivity is<br>A)The total output associated with
Q37: Average costs curves initially fall<br>A)Due to declining
Q39: Which of the following statements describes the
Q40: Economies of scale are also known as<br>A)Increasing
Q41: Average costs_ initially due to the presence
Q42: The marginal cost curve:<br>A)Usually declines initially as
Q43: When a firm is experiencing decreasing marginal