Multiple Choice
The long-run market supply curve in the presence of internal economies of scale is ________, and in the presence of external economies of scale, it is ________.
A) horizontal; upward sloping
B) downward sloping; downward sloping
C) upward sloping; downward sloping
D) upward sloping; horizontal
E) downward sloping; horizontal
Correct Answer:
Verified
Correct Answer:
Verified
Q21: Internal economies of scale will _ average
Q22: External economies of scale arise when the
Q23: Restaurant meals are an example of a
Q24: When there are external economies of scale,
Q25: If output is increased in the long
Q27: If some industries exhibit internal increasing returns
Q28: The study of factors that influence both
Q29: If a firm's output more than doubles
Q30: If output is increased in the long
Q31: The share of _ goods in employment