Multiple Choice
You would expect that your firm is experiencing increasing 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
Q22: What are economies of scale?<br>A)decreasing average costs
Q23: Learning curves mean<br>A)you learn from experience<br>B)current production
Q24: It costs firm A $800 to produce
Q25: A firewood supplier has a very seasonal
Q26: Eddys' Electronics found that instead of producing
Q28: As a table manufacturing company produces more
Q29: A rising average cost implies that<br>A)marginal cost
Q30: Ray's Radios believed the synergies between radio
Q31: Average costs _initially due to the presence
Q32: The term "bottleneck" refers to<br>A)when increasing amounts